Stagwell (NASDAQ:STGW) Stock Price Up 5.3% – Here’s What Happened

Stagwell Inc. (NASDAQ:STGW)’s stock price rose 5.3% on Monday . The company traded as high as $6.64 and last traded at $6.64. Approximately 175,367 shares changed hands during trading, a decline of 45% from the average daily volume of 321,133 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

Several research firms have recently commented on STGW. Benchmark raised their price target on Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $9.00 price target on shares of Stagwell in a report on Friday, February 14th. Finally, Wells Fargo & Company raised shares of Stagwell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $9.00 in a report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.58.

Stagwell Stock Up 5.7 %

The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $6.87. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.50 and a beta of 1.44.

Hedge Funds Weigh In On Stagwell

Several institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in Stagwell by 304.6% in the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after acquiring an additional 101,201 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Stagwell by 4.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 207,100 shares of the company’s stock valued at $1,454,000 after purchasing an additional 8,579 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Stagwell in the third quarter valued at approximately $229,000. Portfolio Design Labs LLC acquired a new position in Stagwell in the 4th quarter valued at $271,000. Finally, FMR LLC lifted its position in Stagwell by 370.3% during the third quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after buying an additional 13,252 shares during the period. 35.61% of the stock is owned by institutional investors and hedge funds.

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.