Stagwell’s (STGW) “Buy” Rating Reiterated at Rosenblatt Securities

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a report released on Monday, Benzinga reports. They currently have a $8.00 target price on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 31.15% from the company’s previous close.

STGW has been the subject of several other reports. Benchmark cut their price target on Stagwell from $9.00 to $8.50 and set a “buy” rating for the company in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research note on Friday. The Goldman Sachs Group started coverage on Stagwell in a report on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price target for the company. Finally, B. Riley increased their price objective on shares of Stagwell from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.72.

Stagwell Price Performance

NASDAQ STGW traded down $0.05 during mid-day trading on Monday, hitting $6.10. The stock had a trading volume of 281,719 shares, compared to its average volume of 541,331. The company has a 50 day simple moving average of $6.78 and a 200 day simple moving average of $6.44. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.59. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -201.67 and a beta of 1.36. Stagwell has a 52-week low of $3.83 and a 52-week high of $7.25.

Stagwell (NASDAQ:STGW) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Stagwell had a negative net margin of 0.09% and a positive return on equity of 6.92%. The business had revenue of $671.20 million during the quarter, compared to analyst estimates of $666.61 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts forecast that Stagwell will post 0.61 EPS for the current fiscal year.

Insider Activity

In other news, Director Bradley J. Gross sold 4,000,000 shares of Stagwell stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the director now owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust bought a new stake in shares of Stagwell in the fourth quarter worth $30,000. Quarry LP bought a new position in shares of Stagwell during the fourth quarter worth about $56,000. Handelsbanken Fonder AB acquired a new position in Stagwell in the fourth quarter worth about $71,000. TRUE Private Wealth Advisors bought a new stake in Stagwell in the fourth quarter valued at about $105,000. Finally, Victory Capital Management Inc. raised its stake in Stagwell by 39.1% during the fourth quarter. Victory Capital Management Inc. now owns 17,093 shares of the company’s stock valued at $113,000 after buying an additional 4,807 shares in the last quarter. Hedge funds and other 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.