Stagwell (NASDAQ:STGW) Receives Buy Rating from Benchmark

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research note issued on Wednesday, Benzinga reports. They currently have a $8.50 price objective on the stock. Benchmark’s target price would indicate a potential upside of 37.10% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Stagwell in a report on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $7.50 target price on shares of Stagwell in a report on Monday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $8.00 price target on shares of Stagwell in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Stagwell Stock Down 3.6 %

STGW stock traded down $0.23 during midday trading on Wednesday, hitting $6.20. The stock had a trading volume of 134,346 shares, compared to its average volume of 521,862. The business has a 50-day moving average of $6.97 and a two-hundred day moving average of $6.72. 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 firm has a market cap of $1.67 billion, a price-to-earnings ratio of -207.00 and a beta of 1.34. Stagwell has a 52-week low of $3.83 and a 52-week high of $7.50.

Stagwell (NASDAQ:STGW) last announced its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.06%. The business had revenue of $671.20 million for the quarter, compared to the consensus estimate of $666.61 million. During the same period in the prior year, the business posted $0.12 EPS. Stagwell’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Stagwell will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stagwell

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Stagwell during the 2nd quarter worth approximately $29,000. Hsbc Holdings PLC raised its stake in Stagwell by 25.1% during the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock valued at $114,000 after purchasing an additional 3,360 shares in the last quarter. SG Americas Securities LLC bought a new position in Stagwell during the third quarter valued at $153,000. Concurrent Investment Advisors LLC grew its stake in shares of Stagwell by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock worth $197,000 after buying an additional 8,875 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Stagwell by 16.1% in 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 during the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

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.