Stagwell (NASDAQ:STGW) Price Target Raised to $10.00 at B. Riley

Stagwell (NASDAQ:STGW) had its price objective lifted by B. Riley from $9.00 to $10.00 in a research report report published on Thursday morning, Benzinga reports. B. Riley currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Stagwell from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Needham & Company LLC restated a buy rating and set a $7.50 target price on shares of Stagwell in a research report on Thursday. Finally, Benchmark increased their price target on shares of Stagwell from $6.50 to $9.00 and gave the company a buy rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $8.06.

Stagwell Trading Down 3.2 %

Shares of STGW stock opened at $6.90 on Thursday. The stock’s 50-day moving average price is $5.83 and its 200 day moving average price is $5.80. Stagwell has a 52-week low of $3.83 and a 52-week high of $8.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.75 and a current ratio of 0.75.

Stagwell (NASDAQ:STGW) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.13). Stagwell had a positive return on equity of 7.35% and a negative net margin of 0.16%. The company had revenue of $654.90 million for the quarter, compared to analysts’ expectations of $683.12 million. During the same quarter last year, the company earned $0.22 EPS. Stagwell’s revenue for the quarter was down 7.5% compared to the same quarter last year. Analysts predict that Stagwell will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark Jeffery Penn acquired 10,000 shares of Stagwell stock in a transaction dated Wednesday, February 28th. The shares were acquired 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Wade Oosterman bought 5,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $5.04 per share, with a total value of $25,200.00. Following the purchase, the director now owns 128,204 shares of the company’s stock, valued at $646,148.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Jeffery Penn bought 10,000 shares of Stagwell stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price 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 approximately $12,898,438.80. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STGW. Parkside Financial Bank & Trust purchased a new stake in Stagwell in the fourth quarter valued at approximately $30,000. New York State Teachers Retirement System grew its stake in shares of Stagwell by 40.8% during the 3rd quarter. New York State Teachers Retirement System now owns 9,611 shares of the company’s stock valued at $45,000 after buying an additional 2,787 shares during the period. AXQ Capital LP purchased a new position in shares of Stagwell in the 3rd quarter worth about $53,000. Quarry LP acquired a new position in shares of Stagwell in the 4th quarter valued at about $56,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Stagwell during the 3rd quarter worth about $59,000. Institutional investors and hedge funds 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.