Benchmark Forecasts Strong Price Appreciation for Stagwell (NASDAQ:STGW) Stock

Stagwell (NASDAQ:STGW) had its target price hoisted by Benchmark from $8.50 to $9.50 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently commented on STGW. Rosenblatt Securities reiterated a “buy” rating and issued a $8.00 target price on shares of Stagwell in a research report on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and set a $7.50 target price on shares of Stagwell in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.30.

Stagwell Stock Performance

STGW stock traded up $0.52 during mid-day trading on Friday, hitting $7.85. The company had a trading volume of 1,609,436 shares, compared to its average volume of 438,481. The company has a 50-day moving average price of $6.90 and a 200 day moving average price of $6.80. Stagwell has a 12-month low of $4.25 and a 12-month high of $7.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.95.

Institutional Trading of Stagwell

A number of hedge funds have recently bought and sold shares of STGW. Vanguard Group Inc. boosted its stake in Stagwell by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock valued at $36,306,000 after acquiring an additional 452,874 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Stagwell by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after acquiring an additional 127,099 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock worth $8,716,000 after acquiring an additional 685,164 shares during the period. First Pacific Advisors LP grew its stake in Stagwell by 1.8% during the 2nd quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock valued at $6,779,000 after purchasing an additional 18,050 shares during the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of Stagwell by 11.3% in the first quarter. Foundry Partners LLC now owns 911,170 shares of the company’s stock valued at $5,667,000 after purchasing an additional 92,154 shares during the period. Hedge funds and other institutional investors 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.