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

Stagwell (NASDAQ:STGW – Get Rating)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $9.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 12.71% from the company’s current price.

STGW has been the subject of several other reports. Benchmark restated a “buy” rating and issued a $13.00 price target on shares of Stagwell in a research report on Tuesday, February 28th. B. Riley started coverage on shares of Stagwell in a research report on Tuesday, November 15th. They issued a “buy” rating and a $13.00 price target for the company. Stephens started coverage on shares of Stagwell in a research report on Monday, November 14th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Rosenblatt Securities started coverage on shares of Stagwell in a research report on Wednesday. They issued a “buy” rating and a $10.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Stagwell has a consensus rating of “Buy” and an average target price of $11.00.

Stagwell Price Performance

STGW stock opened at $7.99 on Friday. The company has a 50 day simple moving average of $6.83 and a 200 day simple moving average of $7.05. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 38.02 and a beta of 1.02. Stagwell has a 1 year low of $4.80 and a 1 year high of $8.33. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Investors Weigh In On Stagwell

Several large investors have recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Stagwell by 44.1% during the fourth quarter. Alliancebernstein L.P. now owns 44,800 shares of the company’s stock worth $278,000 after buying an additional 13,700 shares during the period. Millennium Management LLC bought a new position in Stagwell during the fourth quarter worth $203,000. Delphia USA Inc. boosted its stake in Stagwell by 50.6% during the fourth quarter. Delphia USA Inc. now owns 46,760 shares of the company’s stock worth $290,000 after acquiring an additional 15,713 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Stagwell during the fourth quarter worth $68,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Stagwell by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,052 shares of the company’s stock worth $236,000 after acquiring an additional 1,528 shares in the last quarter. 38.00% of the stock is currently owned by institutional investors and hedge funds.

About Stagwell

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Stagwell, Inc operates as media and public relations agency. It delivers brands that connect culture-moving creativity with technology to harmonize the art and science of marketing. It operates through the following segments: Integrated Agencies Network, Media Network, Communications Network, All Other, and Corporate.