Stagwell (NASDAQ:STGW) Given New $9.50 Price Target at Benchmark

Stagwell (NASDAQ:STGW) had its price target boosted by Benchmark from $8.50 to $9.50 in a research report released on Friday,Benzinga reports. Benchmark currently has a buy rating on the stock.

STGW has been the subject of a number of other reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $8.00 price target on shares of Stagwell in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.30.

Stagwell Price Performance

Shares of NASDAQ STGW opened at $7.82 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.90 and a quick ratio of 0.90. Stagwell has a 1-year low of $4.29 and a 1-year high of $7.99. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 24.43 and a beta of 1.35. The business has a 50-day moving average of $6.90 and a 200-day moving average of $6.81.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Stagwell during the second quarter valued at $29,000. Hsbc Holdings PLC grew its position in shares of Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after buying an additional 3,360 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Stagwell during the third quarter worth about $136,000. SG Americas Securities LLC bought a new position in Stagwell in the third quarter worth about $153,000. Finally, Concurrent Investment Advisors LLC boosted its stake in Stagwell by 44.4% in the second quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after acquiring an additional 8,875 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

About Stagwell

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.