Stagwell (NASDAQ:STGW) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Stagwell (NASDAQ:STGW) in a report issued on Thursday, Benzinga reports. They currently have a $7.50 target price on the stock.

Other analysts have also recently issued reports about the company. TheStreet upgraded Stagwell from a d+ rating to a c- rating in a report on Wednesday, March 6th. Benchmark restated a buy rating and issued a $6.50 target price on shares of Stagwell in a report on Friday, March 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $8.06.

Stagwell Stock Down 3.2 %

Shares of STGW opened at $6.90 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.39. Stagwell has a one year low of $3.83 and a one year high of $8.59. The stock has a 50 day moving average price of $5.83 and a 200 day moving average price of $5.81.

Stagwell (NASDAQ:STGW) last issued its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.13). The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $683.12 million. Stagwell had a negative net margin of 0.16% and a positive return on equity of 7.35%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. As a group, analysts forecast that Stagwell will post 0.75 EPS for the current fiscal year.

Insider Activity at Stagwell

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

Hedge Funds Weigh In On Stagwell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC increased its position 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 worth $134,369,000 after acquiring an additional 2,731,100 shares during the period. Schroder Investment Management Group increased its holdings in Stagwell by 14.6% during the 4th quarter. Schroder Investment Management Group now owns 5,250,838 shares of the company’s stock worth $34,813,000 after purchasing an additional 667,166 shares during the period. Boston Partners acquired a new stake in Stagwell in the 4th quarter valued at about $12,842,000. RK Capital Management LLC boosted its stake in shares of Stagwell by 44.2% in the 3rd quarter. RK Capital Management LLC now owns 1,705,132 shares of the company’s stock valued at $7,997,000 after buying an additional 522,621 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of Stagwell by 19.3% during the third quarter. New York State Common Retirement Fund now owns 1,689,214 shares of the company’s stock worth $7,922,000 after buying an additional 273,018 shares in the last quarter. Hedge funds and other institutional investors own 35.61% 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)-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.