Stagwell (NASDAQ:STGW) Stock Price Up 7.6% – Still a Buy?

Stagwell Inc. (NASDAQ:STGW)’s stock price rose 7.6% during mid-day trading on Thursday . The company traded as high as $6.73 and last traded at $6.71. Approximately 180,248 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 290,305 shares. The stock had previously closed at $6.24.

Analyst Ratings Changes

STGW has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $9.00 target price on shares of Stagwell in a research note on Friday. Benchmark raised their target price on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.50 target price on shares of Stagwell in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Stagwell has an average rating of “Moderate Buy” and an average price target of $8.50.

Stagwell Stock Down 3.7 %

The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 21.23 and a beta of 1.44. The firm’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $6.87.

Institutional Trading of Stagwell

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Stagwell during the 4th quarter valued at about $29,000. Paloma Partners Management Co acquired a new stake in shares of Stagwell during the 3rd quarter valued at about $77,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Stagwell during the 4th quarter valued at about $105,000. Walleye Capital LLC acquired a new stake in shares of Stagwell during the 4th quarter valued at about $107,000. Finally, XTX Topco Ltd acquired a new stake in shares of Stagwell during the 4th quarter valued at about $110,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.

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.