Stagwell (NASDAQ:STGW) Rating Reiterated by Needham & Company LLC

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $7.50 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 8.70% from the company’s previous close.

STGW has been the topic of several other research reports. Benchmark reiterated a “buy” rating and set a $6.50 price target on shares of Stagwell in a research note on Friday, March 15th. TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.06.

Stagwell Stock Down 3.2 %

NASDAQ:STGW traded down $0.23 during mid-day trading on Thursday, hitting $6.90. 692,394 shares of the company’s stock traded hands, compared to its average volume of 639,891. The company has a fifty day moving average of $5.83 and a 200 day moving average of $5.79. Stagwell has a twelve month low of $3.83 and a twelve month high of $8.59. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39.

Stagwell (NASDAQ:STGW) last announced its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 negative net margin of 0.16% and a positive return on equity of 7.35%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. On average, research analysts forecast that Stagwell will post 0.75 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Stagwell

A number of hedge funds have recently made changes to their positions in STGW. Parkside Financial Bank & Trust acquired a new stake in shares of Stagwell in the fourth quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of Stagwell in the fourth quarter valued at approximately $56,000. New York State Teachers Retirement System increased its holdings in shares of Stagwell by 40.8% in the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock valued at $45,000 after purchasing an additional 2,787 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Stagwell in the fourth quarter valued at approximately $71,000. Finally, AXQ Capital LP acquired a new stake in Stagwell during the third quarter worth $53,000. 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.