Stagwell (NASDAQ:STGW) Stock Price Expected to Rise, Benchmark Analyst Says

Stagwell (NASDAQ:STGW - Free Report) had its price target boosted by Benchmark from $8.50 to $9.50 in a research report released on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

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

Stagwell Stock Performance

STGW traded up $0.52 during trading hours on Friday, reaching $7.85. The company's stock had a trading volume of 1,608,392 shares, compared to its average volume of 529,930. The company's 50-day moving average is $6.89 and its 200-day moving average is $6.78. Stagwell has a 52 week low of $4.25 and a 52 week high of $7.91. The firm has a market cap of $2.07 billion, a PE ratio of -366.50 and a beta of 1.35. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.90 and a current ratio of 0.90.

Institutional Trading of Stagwell

A number of institutional investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC grew its stake in Stagwell by 1.2% during the second quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company's stock worth $860,000 after buying an additional 1,500 shares in the last quarter. Allegheny Financial Group LTD raised its position in Stagwell by 5.8% during the second quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company's stock valued at $302,000 after purchasing an additional 2,423 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company's stock valued at $114,000 after purchasing an additional 3,360 shares in the last quarter. Quarry LP bought a new stake in shares of Stagwell during the 2nd quarter worth $29,000. Finally, The Manufacturers Life Insurance Company grew its position in Stagwell by 16.1% in the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company's stock valued at $243,000 after acquiring an additional 4,961 shares during the last quarter. 35.61% of the stock is currently owned by 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.