Stagwell (NASDAQ:STGW) Receives "Buy" Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Stagwell (NASDAQ:STGW - Free Report) in a research note released on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock.

Several other research analysts have also weighed in on STGW. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price objective on shares of Stagwell in a report on Thursday. Wells Fargo & Company raised shares of Stagwell from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $8.00 to $9.00 in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.08.

Stagwell Trading Down 5.3 %

Stagwell stock traded down $0.30 during trading on Thursday, hitting $5.33. The company's stock had a trading volume of 1,030,019 shares, compared to its average volume of 502,785. The stock's fifty day moving average is $6.23 and its 200 day moving average is $6.73. Stagwell has a 1-year low of $5.26 and a 1-year high of $8.18. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 266.50 and a beta of 1.32. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95.

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Hedge Funds Weigh In On Stagwell

Several hedge funds and other institutional investors have recently made changes to their positions in STGW. Intech Investment Management LLC acquired a new position in shares of Stagwell during the third quarter worth about $136,000. FMR LLC raised its holdings in shares of Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company's stock valued at $118,000 after buying an additional 13,252 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Stagwell by 59.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company's stock worth $114,000 after acquiring an additional 6,058 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Stagwell by 4.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company's stock worth $1,454,000 after acquiring an additional 8,579 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Stagwell in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 35.61% of the company's stock.

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.