Stagwell (NASDAQ:STGW) Given New $10.00 Price Target at B. Riley

Stagwell (NASDAQ:STGW) had its price target boosted by B. Riley from $9.00 to $10.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 39.28% from the company’s previous close.

STGW has been the topic of several other research reports. TheStreet upgraded shares of Stagwell from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. Benchmark upped their target price on shares of Stagwell from $6.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.50 target price on shares of Stagwell 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.06.

Stagwell Stock Up 6.5 %

Shares of Stagwell stock traded up $0.44 during trading on Thursday, reaching $7.18. 920,759 shares of the company traded hands, compared to its average volume of 541,534. 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 $1.93 billion, a PE ratio of -239.67 and a beta of 1.09. The company has a 50 day moving average price of $5.83 and a 200-day moving average price of $5.76. Stagwell has a 1-year low of $3.83 and a 1-year high of $8.59.

Stagwell (NASDAQ:STGW) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.12 earnings per share 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 for the quarter, compared to analyst estimates of $683.12 million. During the same quarter in the prior year, the company posted $0.22 EPS. Stagwell’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities research analysts expect that Stagwell will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Stagwell

Hedge funds have recently modified their holdings of the company. Clear Harbor Asset Management LLC lifted its holdings in shares of Stagwell by 2.3% in the third quarter. Clear Harbor Asset Management LLC now owns 112,617 shares of the company’s stock worth $528,000 after buying an additional 2,500 shares in the last quarter. New York State Teachers Retirement System raised its stake in Stagwell by 40.8% during 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 in the last quarter. Corton Capital Inc. lifted its position in Stagwell by 8.2% during the third quarter. Corton Capital Inc. now owns 36,965 shares of the company’s stock valued at $173,000 after purchasing an additional 2,787 shares during the last quarter. Principal Financial Group Inc. lifted its position in Stagwell by 22.0% during the third quarter. Principal Financial Group Inc. now owns 22,913 shares of the company’s stock valued at $107,000 after purchasing an additional 4,135 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Stagwell by 0.7% during the third quarter. HighTower Advisors LLC now owns 623,894 shares of the company’s stock valued at $2,926,000 after purchasing an additional 4,345 shares during the last quarter. 35.61% of the stock is currently owned by 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.