Stagwell’s (STGW) “Buy” Rating Reaffirmed at Needham & Company LLC

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

STGW has been the subject of a number of other reports. Rosenblatt Securities reiterated a “buy” rating and issued a $8.00 target price on shares of Stagwell in a research note on Monday, August 5th. The Goldman Sachs Group started coverage on shares of Stagwell in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $6.50 price objective for the company. Finally, Benchmark reissued a “buy” rating and set a $8.50 target price on shares of Stagwell in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.10.

Stagwell Trading Down 1.1 %

NASDAQ STGW opened at $6.18 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. Stagwell has a 1-year low of $3.83 and a 1-year high of $7.50. The firm’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $6.71. The company has a market capitalization of $1.66 billion, a PE ratio of -206.00 and a beta of 1.34.

Stagwell (NASDAQ:STGW) last issued its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. The firm had revenue of $671.20 million during the quarter, compared to analyst estimates of $666.61 million. During the same period in the previous year, the company earned $0.12 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Stagwell will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Stagwell in the second quarter valued at about $29,000. Hsbc Holdings PLC boosted its stake in 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 purchasing an additional 3,360 shares during the period. SG Americas Securities LLC acquired a new stake in Stagwell in the 3rd quarter valued at approximately $153,000. Concurrent Investment Advisors LLC increased its position in Stagwell by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock worth $197,000 after buying an additional 8,875 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Stagwell by 16.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock worth $243,000 after buying an additional 4,961 shares during the period. Institutional investors 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.