Stagwell (NASDAQ:STGW) Stock Price Down 4%

Stagwell Inc. (NASDAQ:STGW)’s share price fell 4% during mid-day trading on Monday . The company traded as low as $5.21 and last traded at $5.22. 27,742 shares changed hands during trading, a decline of 97% from the average session volume of 818,065 shares. The stock had previously closed at $5.44.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Stephens downgraded shares of Stagwell from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $11.00 to $8.00 in a research report on Wednesday, August 9th. Morgan Stanley began coverage on shares of Stagwell in a report on Wednesday, June 28th. They set an “equal weight” rating and a $9.00 price objective on the stock. B. Riley lowered their price objective on Stagwell from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Stagwell from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Stagwell in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.38.

Stagwell Stock Performance

The stock has a market cap of $1.36 billion, a P/E ratio of -257.00 and a beta of 1.09. The business has a 50 day moving average price of $6.07 and a 200 day moving average price of $6.54. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.95.

Stagwell (NASDAQ:STGW) last issued its earnings results on Tuesday, August 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The company had revenue of $632.27 million during the quarter, compared to the consensus estimate of $658.88 million. As a group, sell-side analysts expect that Stagwell Inc. will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other news, President Jay Leveton purchased 7,540 shares of Stagwell stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $4.89 per share, with a total value of $36,870.60. Following the transaction, the president now owns 491,825 shares in the company, valued at $2,405,024.25. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Stagwell

Institutional investors have recently modified their holdings of the business. State of Wyoming acquired a new position in Stagwell in the second quarter valued at $28,000. C M Bidwell & Associates Ltd. acquired a new position in Stagwell during the first quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Stagwell during the second quarter worth about $33,000. Tower Research Capital LLC TRC grew its position in shares of Stagwell by 75.9% in the third quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock valued at $34,000 after purchasing an additional 2,127 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of Stagwell in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 97.86% of the company’s stock.

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)-based communications technology, cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.