Stagwell (NASDAQ:STGW) Reaches New 52-Week High – Here’s Why

Stagwell Inc. (NASDAQ:STGW) shares reached a new 52-week high during trading on Monday . The company traded as high as $8.04 and last traded at $8.01, with a volume of 133175 shares. The stock had previously closed at $7.82.

Analyst Ratings Changes

A number of analysts recently issued reports on STGW shares. Needham & Company LLC reissued a “buy” rating and issued a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. Benchmark increased their price objective on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Rosenblatt Securities lifted their target price on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Stagwell Stock Up 1.3 %

The firm’s fifty day moving average is $7.03 and its 200-day moving average is $6.88. The stock has a market capitalization of $2.08 billion, a PE ratio of 26.07 and a beta of 1.35. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97.

Institutional Investors Weigh In On Stagwell

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Stagwell in the 2nd quarter valued at about $29,000. Paloma Partners Management Co acquired a new position in Stagwell during the third quarter worth about $77,000. Hsbc Holdings PLC lifted 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 acquiring an additional 3,360 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Stagwell by 59.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock worth $114,000 after acquiring an additional 6,058 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Stagwell by 370.3% in the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after acquiring an additional 13,252 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.