Stagwell (NASDAQ:STGW) Shares Gap Up to $5.95

Stagwell Inc. (NASDAQ:STGW)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.95, but opened at $6.45. Stagwell shares last traded at $6.57, with a volume of 246,069 shares.

Analyst Upgrades and Downgrades

STGW has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $7.50 price target on shares of Stagwell in a research report on Tuesday, April 16th. Benchmark reissued a “buy” rating and set a $6.50 price target on shares of Stagwell in a research report on Friday, March 15th. Finally, TheStreet raised Stagwell from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.11.

Stagwell Stock Up 11.9 %

The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -221.33 and a beta of 1.06. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.39. The firm has a fifty day moving average price of $5.83 and a 200-day moving average price of $5.75.

Stagwell (NASDAQ:STGW) last issued its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.38%. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $683.12 million. During the same quarter in the previous year, the business posted $0.22 EPS. Stagwell’s revenue was down 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Stagwell Inc. will post 0.75 EPS for the current year.

Insider Activity at Stagwell

In other news, Director Wade Oosterman bought 5,000 shares of Stagwell stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the director now owns 128,204 shares of the company’s stock, valued at $646,148.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Wade Oosterman acquired 5,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of $5.04 per share, with a total value of $25,200.00. Following the completion of the transaction, the director now directly owns 128,204 shares of the company’s stock, valued at approximately $646,148.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Jeffery Penn acquired 10,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average cost of $5.20 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,480,469 shares of the company’s stock, valued at $12,898,438.80. The disclosure for this purchase can be found here. 4.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC raised its position in Stagwell by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock valued at $528,000 after purchasing an additional 2,500 shares during the period. New York State Teachers Retirement System raised its position in Stagwell by 40.8% in the third quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock valued at $45,000 after purchasing an additional 2,787 shares during the period. Corton Capital Inc. increased its position in shares of Stagwell by 8.2% during the third quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock worth $173,000 after acquiring an additional 2,787 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Stagwell by 22.0% during the third quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock worth $107,000 after acquiring an additional 4,135 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Stagwell by 0.7% during the third quarter. HighTower Advisors LLC now owns 623,894 shares of the company’s stock worth $2,926,000 after acquiring an additional 4,345 shares during the last quarter. 35.61% of the stock is owned by hedge funds and other 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.