Stagwell’s (STGW) “Buy” Rating Reaffirmed at Rosenblatt Securities

Stagwell (NASDAQ:STGW)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a report issued on Friday,Benzinga reports. They presently have a $9.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 33.33% from the company’s current price.

A number of other analysts have also weighed in on the stock. Benchmark raised their target price on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $7.50 price objective on shares of Stagwell in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Stagwell Trading Up 8.2 %

STGW opened at $6.75 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of 21.23 and a beta of 1.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The company’s 50 day moving average is $6.63 and its 200-day moving average is $6.87. Stagwell has a 1-year low of $4.88 and a 1-year high of $8.18.

Hedge Funds Weigh In On Stagwell

Hedge funds have recently modified their holdings of the business. Paloma Partners Management Co acquired a new stake in Stagwell in the third quarter valued at $77,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Stagwell in the fourth quarter valued at about $105,000. Walleye Capital LLC bought a new position in shares of Stagwell during the fourth quarter worth about $107,000. XTX Topco Ltd acquired a new position in shares of Stagwell in the fourth quarter worth approximately $110,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Stagwell by 59.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock worth $114,000 after acquiring an additional 6,058 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.