Stagwell (NASDAQ:STGW) Price Target Raised to $9.00 at Benchmark

Stagwell (NASDAQ:STGW) had its price target hoisted by Benchmark from $6.50 to $9.00 in a research note issued to investors on Thursday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other equities analysts have also recently commented on STGW. Needham & Company LLC reissued a buy rating and set a $7.50 target price on shares of Stagwell in a research report on Thursday. TheStreet upgraded Stagwell from a d+ rating to a c- rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $8.06.

Stagwell Price Performance

Stagwell stock traded down $0.23 during trading on Thursday, hitting $6.90. 692,394 shares of the company were exchanged, compared to its average volume of 639,891. The business’s 50 day moving average is $5.83 and its 200 day moving average is $5.79. Stagwell has a 52 week low of $3.83 and a 52 week high of $8.59. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39.

Stagwell (NASDAQ:STGW) last posted its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). Stagwell had a positive return on equity of 7.35% and a negative net margin of 0.16%. The firm had revenue of $654.90 million during the quarter, compared to the consensus estimate of $683.12 million. During the same quarter in the previous year, the company earned $0.22 EPS. The business’s revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts expect that Stagwell will post 0.75 EPS for the current year.

Insider Buying and Selling at Stagwell

In other news, CEO Mark Jeffery Penn purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $5.20 per share, for a total transaction of $52,000.00. Following the purchase, the chief executive officer now owns 2,480,469 shares of the company’s stock, valued at $12,898,438.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stagwell news, Director Wade Oosterman acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of $5.04 per share, with a total value of $25,200.00. Following the acquisition, the director now owns 128,204 shares in the company, valued at $646,148.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Jeffery Penn bought 10,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the acquisition, the chief executive officer now directly owns 2,480,469 shares in the company, valued at $12,898,438.80. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Stagwell

Large investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust purchased a new stake in Stagwell during the 4th quarter worth about $30,000. New York State Teachers Retirement System lifted its holdings in shares of Stagwell by 40.8% in the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock worth $45,000 after buying an additional 2,787 shares in the last quarter. AXQ Capital LP bought a new position in shares of Stagwell in the third quarter valued at approximately $53,000. Quarry LP purchased a new position in Stagwell during the fourth quarter valued at approximately $56,000. Finally, Laurion Capital Management LP bought a new stake in Stagwell during the 3rd quarter worth approximately $59,000. 35.61% of the stock is owned by institutional investors.

Stagwell Company Profile

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.