Stagwell (NASDAQ:STGW) Given “Buy” Rating at Needham & Company LLC

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

Several other brokerages also recently weighed in on STGW. Benchmark reaffirmed a “buy” rating and set a $8.50 price target on shares of Stagwell in a report on Wednesday, August 14th. Rosenblatt Securities restated a “buy” rating and issued a $8.00 target price on shares of Stagwell in a research note on Monday, August 5th. Finally, The Goldman Sachs Group started coverage on shares of Stagwell in a research note on Tuesday, June 25th. They set a “neutral” rating and a $6.50 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.10.

Stagwell Price Performance

Shares of NASDAQ:STGW opened at $6.60 on Monday. Stagwell has a one year low of $3.83 and a one year high of $7.50. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -220.00 and a beta of 1.34. The company has a 50-day simple moving average of $6.97 and a 200-day simple moving average of $6.71. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.90 and a current ratio of 0.90.

Stagwell (NASDAQ:STGW) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate 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 company had revenue of $671.20 million for the quarter, compared to analysts’ expectations of $666.61 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Stagwell will post 0.59 EPS for the current year.

Hedge Funds Weigh In On Stagwell

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its holdings in Stagwell by 88.9% during the third quarter. Creative Planning now owns 40,074 shares of the company’s stock worth $281,000 after buying an additional 18,863 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Stagwell during the 3rd quarter valued at approximately $153,000. Quarry LP purchased a new stake in shares of Stagwell during the 2nd quarter worth approximately $29,000. Lighthouse Investment Partners LLC acquired a new stake in shares of Stagwell in the 2nd quarter worth approximately $2,316,000. Finally, The Manufacturers Life Insurance Company increased its stake in Stagwell by 16.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after purchasing an additional 4,961 shares in the last quarter. 35.61% of the stock is owned by institutional investors and hedge funds.

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.