Stagwell (NASDAQ:STGW) Trading Up 7.6% – Still a Buy?

Stagwell Inc. (NASDAQ:STGW) was up 7.6% during trading on Thursday . The company traded as high as $6.73 and last traded at $6.71. Approximately 180,248 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 290,305 shares. The stock had previously closed at $6.24.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $7.50 price target on shares of Stagwell in a report on Monday, October 21st. Finally, Benchmark upped their price objective on shares of Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Stagwell Stock Up 7.5 %

The company has a market capitalization of $1.77 billion, a PE ratio of 20.97 and a beta of 1.44. The stock’s fifty day moving average is $6.63 and its two-hundred day moving average is $6.87. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Stagwell by 2,968.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,193,355 shares of the company’s stock valued at $7,852,000 after purchasing an additional 1,154,458 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock worth $8,716,000 after acquiring an additional 685,164 shares during the period. Boston Partners increased its holdings in Stagwell by 4.5% in the 4th quarter. Boston Partners now owns 2,333,593 shares of the company’s stock worth $15,369,000 after acquiring an additional 101,318 shares during the last quarter. Barclays PLC raised its stake in Stagwell by 304.6% in the 3rd quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after acquiring an additional 101,201 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in Stagwell during the fourth quarter valued at about $442,000. 35.61% of the stock is owned by 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.