Stagwell (NASDAQ:STGW) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note issued to investors on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $10.00 price objective on the stock.

A number of other brokerages also recently weighed in on STGW. Needham & Company LLC reaffirmed a “buy” rating and set a $6.36 price objective on shares of Stagwell in a research report on Tuesday, July 22nd. Benchmark cut shares of Stagwell from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Stagwell from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, May 12th.

Stagwell Price Performance

NASDAQ STGW opened at $5.47 on Monday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50 day moving average price is $4.67 and its 200-day moving average price is $5.50. Stagwell has a 52-week low of $4.03 and a 52-week high of $8.18. The company has a market cap of $1.46 billion, a PE ratio of -547.00 and a beta of 1.39.

Stagwell (NASDAQ:STGW) last posted its earnings results on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.05). The company had revenue of $651.74 million for the quarter, compared to analysts’ expectations of $686.46 million. Stagwell had a return on equity of 15.38% and a net margin of 0.02%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Sell-side analysts forecast that Stagwell will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at Stagwell

In related news, Director Charlene Barshefsky bought 24,350 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was bought at an average cost of $4.30 per share, for a total transaction of $104,705.00. Following the purchase, the director directly owned 185,316 shares of the company’s stock, valued at approximately $796,858.80. This trade represents a 15.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Jeffery Penn bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were bought at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the transaction, the chief executive officer owned 9,014,055 shares in the company, valued at $43,898,447.85. The trade was a 0.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 702,193 shares of company stock worth $3,044,496. 3.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STGW. Concurrent Investment Advisors LLC increased its holdings in shares of Stagwell by 21.5% in the second quarter. Concurrent Investment Advisors LLC now owns 43,276 shares of the company’s stock valued at $195,000 after purchasing an additional 7,671 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Stagwell during the second quarter worth about $912,000. ABLE Financial Group LLC purchased a new stake in Stagwell in the second quarter valued at approximately $10,001,000. Harbor Capital Advisors Inc. increased its holdings in Stagwell by 21.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,010,698 shares of the company’s stock worth $9,048,000 after buying an additional 361,907 shares during the period. Finally, Strs Ohio purchased a new position in Stagwell during the 1st quarter worth approximately $513,000. Institutional investors and hedge funds own 35.61% of the company’s stock.

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.