Stagwell’s (STGW) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Stagwell (NASDAQ:STGW) in a research note published on Wednesday morning, Benzinga reports. They currently have a $8.50 price objective on the stock.

STGW has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $7.50 target price on shares of Stagwell in a report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and set a $8.00 price objective on shares of Stagwell in a report on Monday, August 5th. Finally, The Goldman Sachs Group began coverage on Stagwell in a research report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.10.

Stagwell Stock Down 2.8 %

Stagwell stock opened at $6.25 on Wednesday. The stock has a market cap of $1.68 billion, a PE ratio of -208.33 and a beta of 1.34. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average is $6.97 and its two-hundred day moving average is $6.71. Stagwell has a 1-year low of $3.83 and a 1-year high of $7.50.

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). The business had revenue of $671.20 million for the quarter, compared to analyst estimates of $666.61 million. Stagwell had a positive return on equity of 7.06% and a negative net margin of 0.09%. Stagwell’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. On average, sell-side analysts expect that Stagwell will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Stagwell

Several institutional investors have recently bought and sold shares of the company. Creative Planning lifted its stake in shares of Stagwell by 88.9% in the 3rd quarter. Creative Planning now owns 40,074 shares of the company’s stock worth $281,000 after acquiring an additional 18,863 shares during the period. SG Americas Securities LLC acquired a new stake in Stagwell in the third quarter valued at about $153,000. Quarry LP purchased a new stake in Stagwell in the 2nd quarter valued at approximately $29,000. Lighthouse Investment Partners LLC acquired a new position in Stagwell during the 2nd quarter worth approximately $2,316,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Stagwell by 16.1% during 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 in the last quarter. 35.61% of the stock is owned by institutional investors and hedge funds.

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.