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

Needham & Company LLC reissued their buy rating on shares of Stagwell (NASDAQ:STGW) in a report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $7.50 price objective on the stock.

Several other research firms have also recently weighed in on STGW. TheStreet upgraded Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Benchmark restated a buy rating and issued a $6.50 price target on shares of Stagwell in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stagwell has an average rating of Moderate Buy and a consensus target price of $8.11.

Stagwell Trading Up 4.3 %

Shares of Stagwell stock opened at $5.54 on Tuesday. The business has a fifty day simple moving average of $5.95 and a two-hundred day simple moving average of $5.64. Stagwell has a 1 year low of $3.83 and a 1 year high of $8.59. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -184.67 and a beta of 1.06. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.75 and a quick ratio of 0.75.

Stagwell (NASDAQ:STGW) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.13). The firm had revenue of $654.90 million for the quarter, compared to the consensus estimate of $683.12 million. Stagwell had a positive return on equity of 7.38% and a negative net margin of 0.09%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Research analysts forecast that Stagwell will post 0.73 EPS for the current year.

Insider Buying and Selling at Stagwell

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

Institutional Trading of Stagwell

A number of hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Stagwell by 15.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,266,750 shares of the company’s stock valued at $134,369,000 after purchasing an additional 2,731,100 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Stagwell by 29.1% in the second quarter. BlackRock Inc. now owns 7,256,974 shares of the company’s stock worth $52,323,000 after acquiring an additional 1,634,128 shares during the period. Select Equity Group L.P. lifted its stake in shares of Stagwell by 19.1% in the first quarter. Select Equity Group L.P. now owns 6,706,120 shares of the company’s stock worth $49,759,000 after acquiring an additional 1,075,851 shares during the period. Vanguard Group Inc. lifted its stake in shares of Stagwell by 18.3% in the fourth quarter. Vanguard Group Inc. now owns 5,384,102 shares of the company’s stock worth $35,697,000 after acquiring an additional 834,189 shares during the period. Finally, Schroder Investment Management Group lifted its stake in shares of Stagwell by 14.6% in the fourth quarter. Schroder Investment Management Group now owns 5,250,838 shares of the company’s stock worth $34,813,000 after acquiring an additional 667,166 shares during the period. 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.