Stagwell (NASDAQ:STGW) Shares Gap Up – Here’s What Happened

Stagwell Inc. (NASDAQ:STGW)’s share price gapped up prior to trading on Friday . The stock had previously closed at $6.15, but opened at $6.60. Stagwell shares last traded at $6.70, with a volume of 116,988 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on STGW shares. Rosenblatt Securities restated a “buy” rating and issued a $9.00 price objective on shares of Stagwell in a research report on Friday, February 14th. Wells Fargo & Company raised Stagwell from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $9.00 in a report on Friday. Finally, Benchmark increased their price objective on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.58.

Stagwell Trading Up 2.4 %

The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 20.50 and a beta of 1.44. The company has a 50 day moving average of $6.48 and a 200-day moving average of $6.86.

Institutional Trading of Stagwell

Hedge funds have recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Stagwell by 4.5% in the fourth quarter. Boston Partners now owns 2,333,593 shares of the company’s stock valued at $15,369,000 after acquiring an additional 101,318 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Stagwell by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,730,153 shares of the company’s stock valued at $11,385,000 after buying an additional 51,341 shares during the last quarter. New York State Common Retirement Fund increased its position in Stagwell by 0.4% in the 4th quarter. New York State Common Retirement Fund now owns 1,612,333 shares of the company’s stock valued at $10,609,000 after acquiring an additional 6,992 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Stagwell by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,266,783 shares of the company’s stock valued at $8,335,000 after purchasing an additional 25,189 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Stagwell by 2,968.0% during 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. Institutional investors and hedge funds own 35.61% of the company’s stock.

About Stagwell

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.