Stagwell (NASDAQ:STGW) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Stagwell (NASDAQ:STGW) from an equal weight rating to an overweight rating in a research note issued to investors on Friday morning, MarketBeat reports. Wells Fargo & Company currently has $9.00 target price on the stock, up from their previous target price of $8.00.

Several other brokerages also recently weighed in on STGW. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 price target on shares of Stagwell in a report on Friday, February 14th. Benchmark increased their target price on Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.58.

Stagwell Stock Performance

Stagwell stock opened at $6.30 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $1.66 billion, a P/E ratio of 20.70 and a beta of 1.44. Stagwell has a 1-year low of $4.88 and a 1-year high of $8.18. The company’s 50-day moving average is $6.50 and its 200 day moving average is $6.86.

Hedge Funds Weigh In On Stagwell

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in Stagwell by 304.6% in the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock worth $944,000 after acquiring an additional 101,201 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Stagwell by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company’s stock valued at $1,454,000 after purchasing an additional 8,579 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Stagwell in the 3rd quarter worth approximately $229,000. Portfolio Design Labs LLC bought a new position in shares of Stagwell during the fourth quarter valued at approximately $271,000. Finally, FMR LLC increased its holdings in Stagwell by 370.3% during the third quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after buying an additional 13,252 shares during the period. Institutional investors own 35.61% of the company’s stock.

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.