Stagwell (NASDAQ:STGW) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $7.50 target price on the stock.

A number of other equities research analysts have also commented on the company. TheStreet raised Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Benchmark reaffirmed a buy rating and set a $6.50 price target on shares of Stagwell in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Stagwell presently has an average rating of Moderate Buy and an average target price of $8.11.

Stagwell Trading Up 0.9 %

NASDAQ:STGW opened at $5.59 on Tuesday. Stagwell has a 1-year low of $3.83 and a 1-year high of $8.59. The business’s 50-day moving average price is $5.93 and its two-hundred day moving average price is $5.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -186.33 and a beta of 1.06.

Stagwell (NASDAQ:STGW) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The business had revenue of $654.90 million for the quarter, compared to analyst estimates of $683.12 million. Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. On average, equities analysts expect that Stagwell will post 0.73 earnings per share for the current year.

Insider Activity at Stagwell

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new position in Stagwell in the second quarter valued at approximately $28,000. Parkside Financial Bank & Trust bought a new position in Stagwell in the fourth quarter valued at approximately $30,000. Clear Street Markets LLC bought a new position in shares of Stagwell during the 4th quarter worth approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Stagwell during the 2nd quarter worth approximately $33,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Stagwell by 75.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock worth $34,000 after acquiring an additional 2,127 shares during the period. 35.61% of the stock is currently 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.