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

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

A number of other research analysts have also issued reports on STGW. TheStreet raised Stagwell from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. Benchmark reissued a “buy” rating and issued a $6.50 target price on shares of Stagwell in a report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.11.

Stagwell Trading Down 0.4 %

STGW opened at $5.57 on Tuesday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -185.67 and a beta of 1.06. Stagwell has a 52 week low of $3.83 and a 52 week high of $8.59. The business’s 50 day moving average is $6.01 and its two-hundred day moving average is $5.64. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.39.

Stagwell (NASDAQ:STGW) last released its earnings results on Tuesday, February 27th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.13). The company had revenue of $654.90 million during the quarter, compared to analyst estimates of $683.12 million. Stagwell had a negative net margin of 0.09% and a positive return on equity of 7.38%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. On average, research analysts predict that Stagwell will post 0.73 EPS for the current year.

Insider Activity at Stagwell

In other Stagwell news, Director Wade Oosterman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $5.04 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the director now directly owns 128,204 shares in the company, valued at $646,148.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Wade Oosterman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were bought 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 owns 128,204 shares in the company, valued at $646,148.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Jeffery Penn bought 10,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were purchased 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 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. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Stagwell

A number of institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Stagwell in the second quarter valued at $28,000. Parkside Financial Bank & Trust purchased a new stake in shares of Stagwell in the fourth quarter valued at $30,000. Clear Street Markets LLC purchased a new stake in shares of Stagwell in the fourth quarter valued at $31,000. Tower Research Capital LLC TRC lifted its position in shares of Stagwell by 75.9% in the third quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock valued at $34,000 after acquiring an additional 2,127 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Stagwell in the second quarter valued at $33,000. 35.61% of the stock is currently owned by hedge funds and other 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.