Needham & Company LLC Reiterates “Buy” Rating for Stagwell (NASDAQ:STGW)

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $7.50 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 34.65% from the company’s current price.

STGW has been the topic of a number of other research reports. TheStreet upgraded Stagwell from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. Benchmark restated a “buy” rating and set a $6.50 price target on shares of Stagwell in a research note on Friday, March 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.11.

Stagwell Price Performance

STGW opened at $5.57 on Tuesday. The business’s 50-day moving average is $6.01 and its two-hundred day moving average is $5.64. Stagwell has a 1 year low of $3.83 and a 1 year high of $8.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $1.50 billion, a PE ratio of -185.67 and a beta of 1.06.

Stagwell (NASDAQ:STGW) last posted its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $683.12 million. During the same quarter last year, the firm earned $0.22 EPS. Stagwell’s revenue for the quarter was down 7.5% on a year-over-year basis. Research analysts anticipate that Stagwell will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Stagwell

In related news, Director Wade Oosterman purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average cost of $5.04 per share, with a total value of $25,200.00. Following the completion of the acquisition, the director now owns 128,204 shares of the company’s stock, valued at approximately $646,148.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Stagwell news, Director Wade Oosterman acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $5.04 per share, for a total transaction 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 $646,148.16. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Jeffery Penn acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $5.20 per share, with a total value 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 currently owned by corporate insiders.

Institutional Trading of Stagwell

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Stagwell by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,384,102 shares of the company’s stock worth $35,697,000 after purchasing an additional 834,189 shares in the last quarter. Quarry LP purchased a new stake in shares of Stagwell during the fourth quarter worth approximately $56,000. Price T Rowe Associates Inc. MD increased its position in shares of Stagwell by 2.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 336,114 shares of the company’s stock worth $2,230,000 after purchasing an additional 7,410 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Stagwell during the fourth quarter worth approximately $70,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Stagwell by 28.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 106,829 shares of the company’s stock worth $708,000 after purchasing an additional 23,400 shares in the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

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.