Stagwell (NASDAQ:STGW) Sets New 12-Month High - Here's What Happened

Stagwell Inc. (NASDAQ:STGW - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $8.03 and last traded at $8.03, with a volume of 167 shares. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STGW shares. Benchmark upped their target price on Stagwell from $8.50 to $9.50 and gave the company a "buy" rating in a report on Friday, November 8th. Rosenblatt Securities reissued a "buy" rating and set a $8.00 price objective on shares of Stagwell in a report on Monday, August 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $7.50 price objective on shares of Stagwell in a report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.30.

Stagwell Trading Down 2.7 %

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 stock has a market cap of $1.96 billion, a PE ratio of 25.57 and a beta of 1.35. The firm has a 50-day simple moving average of $6.94 and a 200-day simple moving average of $6.83.

Institutional Investors Weigh In On Stagwell

A number of large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company's stock valued at $8,716,000 after acquiring an additional 685,164 shares in the last quarter. Vanguard Group Inc. raised its holdings in Stagwell by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company's stock worth $36,306,000 after acquiring an additional 452,874 shares during the last quarter. CCG Wealth Management LLC purchased a new position in Stagwell in the 2nd quarter worth approximately $3,008,000. Lighthouse Investment Partners LLC purchased a new position in Stagwell in the 2nd quarter worth approximately $2,316,000. Finally, Huber Capital Management LLC bought a new stake in Stagwell in the 1st quarter worth approximately $1,410,000. Hedge funds and other institutional investors 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.