Stagwell (NASDAQ:STGW) Hits New 12-Month High – Here’s What Happened

by · The Markets Daily

Stagwell Inc. (NASDAQ:STGW – Get Free Report) reached a new 52-week high during mid-day trading on Friday. The company traded as high as $11.35 and last traded at $11.3250, with a volume of 1,588,521 shares trading hands. The stock had previously closed at $10.83.

Analyst Upgrades and Downgrades

STGW has been the topic of several research reports. Rosenblatt Securities lifted their price objective on shares of Stagwell from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, October 30th. Needham & Company LLC increased their target price on Stagwell from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Weiss Ratings upgraded Stagwell from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. The Goldman Sachs Group began coverage on Stagwell in a research report on Monday, October 5th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Wall Street Zen lowered Stagwell from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Read Our Latest Analysis on Stagwell

Stagwell Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.99. The firm’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $7.27. The company has a market cap of $2.79 billion, a PE ratio of 285.35 and a beta of 1.23.

Stagwell (NASDAQ:STGW – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $816.03 million during the quarter, compared to analyst estimates of $838.38 million. Stagwell had a net margin of 0.31% and a return on equity of 29.37%. Stagwell’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. As a group, research analysts anticipate that Stagwell Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Stagwell

In related news, Director Desiree Rogers sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $10.78, for a total transaction of $129,360.00. Following the completion of the transaction, the director directly owned 202,984 shares in the company, valued at $2,188,167.52. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stagwell

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Stagwell by 22.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,035,320 shares of the company’s stock valued at $31,671,000 after buying an additional 923,771 shares during the period. First Trust Advisors LP grew its holdings in Stagwell by 53.0% during the first quarter. First Trust Advisors LP now owns 673,642 shares of the company’s stock worth $4,237,000 after acquiring an additional 233,489 shares during the period. Bank of New York Mellon Corp purchased a new position in Stagwell during the second quarter valued at approximately $3,907,000. Empowered Funds LLC purchased a new position in Stagwell during the first quarter valued at approximately $2,862,000. Finally, Sei Investments Co. raised its position in Stagwell by 104.2% during the first quarter. Sei Investments Co. now owns 371,788 shares of the company’s stock valued at $2,339,000 after acquiring an additional 189,751 shares in the last quarter. Hedge funds and other institutional investors own 35.61% of the company’s stock.

About Stagwell

(Get Free Report)

Stagwell Inc is a global marketing and communications services company that helps brands, organizations and institutions develop strategies, engage audiences and manage their reputations. Its services include advertising, media, public relations, digital marketing, consumer insights, creative development and marketing technology.

The company operates through a network of agencies and specialized businesses serving clients across North America, Europe, Asia-Pacific and other international markets.

Recommended Stories