Stagwell (NASDAQ:STGW) Hits New 12-Month High After Analyst Upgrade

Stagwell Inc. (NASDAQ:STGW - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday after Benchmark raised their price target on the stock from $8.50 to $9.50. Benchmark currently has a buy rating on the stock. Stagwell traded as high as $7.77 and last traded at $7.77, with a volume of 470377 shares changing hands. The stock had previously closed at $7.33.

A number of other research firms have also recently weighed in on STGW. Needham & Company LLC restated a "buy" rating and issued a $7.50 price target on shares of Stagwell in a report on Monday, October 21st. Rosenblatt Securities reissued a "buy" rating and set a $8.00 price target on shares of Stagwell in a research report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.30.

Institutional Investors Weigh In On Stagwell

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 purchasing an additional 452,874 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Stagwell by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company's stock valued at $10,344,000 after acquiring an additional 127,099 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Stagwell by 123.1% during the third quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company's stock valued at $8,716,000 after purchasing an additional 685,164 shares during the period. First Pacific Advisors LP increased its stake in Stagwell by 1.8% during the 2nd quarter. First Pacific Advisors LP now owns 994,033 shares of the company's stock worth $6,779,000 after purchasing an additional 18,050 shares in the last quarter. Finally, Foundry Partners LLC increased its holdings in Stagwell by 11.3% during the 1st quarter. Foundry Partners LLC now owns 911,170 shares of the company's stock worth $5,667,000 after purchasing an additional 92,154 shares in the last quarter. 35.61% of the stock is owned by hedge funds and other institutional investors.

Stagwell Price Performance

The stock has a market cap of $2.07 billion, a P/E ratio of -392.50 and a beta of 1.35. The company has a 50 day simple moving average of $6.90 and a 200 day simple moving average of $6.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95.

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.