Needham & Company LLC Reaffirms Buy Rating for Stagwell (NASDAQ:STGW)

Needham & Company LLC reissued their buy rating on shares of Stagwell (NASDAQ:STGW) in a research report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $9.00 price objective on the stock.

STGW has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Stagwell in a research note on Thursday. Wells Fargo & Company upgraded Stagwell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $9.00 in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.08.

Stagwell Stock Down 6.5 %

STGW stock opened at $5.63 on Thursday. Stagwell has a 52 week low of $5.29 and a 52 week high of $8.18. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The firm has a 50-day simple moving average of $6.25 and a 200-day simple moving average of $6.74. The stock has a market capitalization of $1.50 billion, a P/E ratio of 281.50 and a beta of 1.56.

Institutional Investors Weigh In On Stagwell

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its holdings in Stagwell by 0.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 622,361 shares of the company’s stock valued at $4,095,000 after buying an additional 1,759 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Stagwell by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,944 shares of the company’s stock valued at $322,000 after acquiring an additional 1,892 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Stagwell by 0.6% in the fourth quarter. Ameriprise Financial Inc. now owns 351,397 shares of the company’s stock valued at $2,312,000 after purchasing an additional 1,974 shares during the period. Principal Financial Group Inc. increased its position in Stagwell by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 34,935 shares of the company’s stock worth $230,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Stagwell by 2.1% during the fourth quarter. Invesco Ltd. now owns 180,472 shares of the company’s stock worth $1,188,000 after purchasing an additional 3,653 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

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.