Needham & Company LLC Reaffirms “Buy” Rating for Stagwell (NASDAQ:STGW)

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $9.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 68.86% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Stagwell in a report on Thursday. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $9.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Stagwell presently has an average rating of “Moderate Buy” and an average price target of $9.08.

Stagwell Price Performance

NASDAQ STGW opened at $5.33 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market cap of $1.42 billion, a PE ratio of 266.50 and a beta of 1.56. Stagwell has a 52 week low of $5.26 and a 52 week high of $8.18. The firm’s 50-day simple moving average is $6.23 and its two-hundred day simple moving average is $6.73.

Institutional Trading of Stagwell

Several institutional investors and hedge funds have recently bought and sold shares of STGW. JPMorgan Chase & Co. increased its holdings in shares of Stagwell by 2,968.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,193,355 shares of the company’s stock worth $7,852,000 after purchasing an additional 1,154,458 shares during the period. 683 Capital Management LLC grew its position in Stagwell by 94.8% during the fourth quarter. 683 Capital Management LLC now owns 750,000 shares of the company’s stock worth $4,935,000 after buying an additional 365,000 shares in the last quarter. First Trust Advisors LP bought a new position in Stagwell in the 4th quarter worth about $1,316,000. Northern Trust Corp raised its holdings in shares of Stagwell by 24.2% in the 4th quarter. Northern Trust Corp now owns 950,179 shares of the company’s stock valued at $6,252,000 after acquiring an additional 185,103 shares in the last quarter. Finally, Boston Partners increased its position in shares of Stagwell by 4.5% in the fourth quarter. Boston Partners now owns 2,333,593 shares of the company’s stock worth $15,369,000 after purchasing an additional 101,318 shares during the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

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.