Stagwell (NASDAQ:STGW) PT Raised to $10.00 at B. Riley

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

STGW has been the subject of several other reports. Needham & Company LLC reaffirmed a buy rating and issued a $7.50 price objective on shares of Stagwell in a research note on Thursday. Benchmark raised their price target on Stagwell from $6.50 to $9.00 and gave the stock a buy rating in a research report on Thursday. Finally, TheStreet raised shares of Stagwell from a d+ rating to a c- rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Stagwell currently has a consensus rating of Moderate Buy and a consensus price target of $8.06.

Stagwell Trading Down 3.2 %

STGW stock opened at $6.90 on Thursday. The firm has a market cap of $1.85 billion, a PE ratio of -230.00 and a beta of 1.09. The firm has a fifty day moving average price of $5.83 and a 200 day moving average price of $5.81. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.75. Stagwell has a fifty-two week low of $3.83 and a fifty-two week high of $8.59.

Stagwell (NASDAQ:STGW) last posted 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 positive return on equity of 7.35% and a negative net margin of 0.16%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $683.12 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was down 7.5% on a year-over-year basis. Sell-side analysts anticipate that Stagwell will post 0.75 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Stagwell

A number of hedge funds have recently added to or reduced their stakes in STGW. Clear Harbor Asset Management LLC raised its holdings in shares of Stagwell by 2.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock valued at $528,000 after purchasing an additional 2,500 shares in the last quarter. New York State Teachers Retirement System raised its stake in Stagwell by 40.8% in the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock worth $45,000 after buying an additional 2,787 shares in the last quarter. Corton Capital Inc. lifted its holdings in Stagwell by 8.2% during the third quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock worth $173,000 after buying an additional 2,787 shares during the period. Principal Financial Group Inc. boosted its position in Stagwell by 22.0% during the 3rd quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock valued at $107,000 after acquiring an additional 4,135 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Stagwell by 0.7% in the 3rd quarter. HighTower Advisors LLC now owns 623,894 shares of the company’s stock valued at $2,926,000 after acquiring an additional 4,345 shares during the period. 35.61% of the stock is owned by hedge funds and other 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.