B. Riley Boosts Stagwell (NASDAQ:STGW) Price Target to $10.00

Stagwell (NASDAQ:STGW) had its price objective raised by B. Riley from $9.00 to $10.00 in a research note released on Thursday, Benzinga reports. B. Riley currently has a buy rating on the stock.

A number of other research firms also recently weighed in on STGW. Benchmark increased their target price on shares of Stagwell from $6.50 to $9.00 and gave the company a buy rating in a research report on Thursday. TheStreet raised shares of Stagwell from a d+ rating to a c- rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a buy rating and issued a $7.50 price objective on shares of Stagwell in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $8.06.

Stagwell Stock Performance

Shares of STGW stock opened at $6.90 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.39. Stagwell has a 52 week low of $3.83 and a 52 week high of $8.59. The firm’s 50-day simple moving average is $5.83 and its two-hundred day simple moving average is $5.80.

Stagwell (NASDAQ:STGW) last released its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. The company had revenue of $654.90 million for the quarter, compared to the consensus estimate of $683.12 million. During the same period in the prior year, the company earned $0.22 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. On average, equities research analysts forecast that Stagwell will post 0.75 earnings per share for the current year.

Insider Activity

In other news, Director Wade Oosterman purchased 5,000 shares of Stagwell stock in a transaction dated 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 transaction, the director now directly owns 128,204 shares of the company’s stock, valued at $646,148.16. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Mark Jeffery Penn acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was bought 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 owns 2,480,469 shares of the company’s stock, valued at approximately $12,898,438.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wade Oosterman acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost 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 in the company, valued at approximately $646,148.16. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Stagwell

Hedge funds have recently made changes to their positions in the stock. My Personal CFO LLC lifted its holdings in shares of Stagwell by 153.5% during the 4th quarter. My Personal CFO LLC now owns 1,333,440 shares of the company’s stock worth $8,841,000 after acquiring an additional 807,505 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Stagwell by 89.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 733,573 shares of the company’s stock worth $3,440,000 after purchasing an additional 345,669 shares during the last quarter. Advisor Resource Council bought a new stake in Stagwell in the fourth quarter worth $260,000. Trexquant Investment LP bought a new stake in Stagwell in the third quarter worth $654,000. Finally, Graham Capital Management L.P. lifted its stake in Stagwell by 186.9% in the third quarter. Graham Capital Management L.P. now owns 68,231 shares of the company’s stock worth $320,000 after purchasing an additional 44,450 shares during the last quarter. 35.61% of the stock is owned by institutional investors.

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.