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

Shares of Stagwell Inc. (NASDAQ:STGW) reached a new 52-week high during 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 traded. The stock had previously closed at $10.83.

Analysts Set New Price Targets

Several research firms recently weighed in on STGW. Wells Fargo & Company upped their price target on shares of Stagwell from $10.00 to $12.00 and gave the stock an “overweight” 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. Needham & Company LLC boosted their price objective on Stagwell from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. The Goldman Sachs Group assumed coverage on Stagwell in a report on Monday, October 5th. They set a “buy” rating and a $13.00 target price for the company. Finally, B. Riley Financial restated a “buy” rating and issued a $12.00 target price (up from $10.00) on shares of Stagwell in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Stagwell Stock Up 7.5%

The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 291.07 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.99. The business’s 50-day moving average is $8.94 and its two-hundred day moving average is $7.29.

Stagwell (NASDAQ:STGW) last released its earnings results on Thursday, October 29th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $816.03 million for 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%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Equities analysts anticipate that Stagwell Inc. will post 0.91 EPS for the current year.

Insider Buying and Selling

In other news, Director Desiree Rogers sold 12,000 shares of Stagwell stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $10.78, for a total transaction of $129,360.00. Following the transaction, the director owned 202,984 shares in the company, valued at $2,188,167.52. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Stagwell

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of Stagwell by 5.1% in the third quarter. State of Alaska Department of Revenue now owns 34,753 shares of the company’s stock valued at $282,000 after buying an additional 1,693 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Stagwell by 34.7% during the first quarter. Pictet Asset Management Holding SA now owns 20,014 shares of the company’s stock worth $126,000 after buying an additional 5,155 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Stagwell in the 2nd quarter valued at about $52,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Stagwell during the 3rd quarter valued at approximately $87,000. Finally, Tidal Investments LLC purchased a new stake in Stagwell during the 2nd quarter valued at approximately $117,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Stagwell Company Profile

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.