Stagwell (NASDAQ:STGW) Price Target Raised to $9.00 at Rosenblatt Securities

Stagwell (NASDAQ:STGW) had its price objective raised by equities research analysts at Rosenblatt Securities from $8.00 to $9.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 18.11% from the stock’s previous close.

A number of other research firms have also recently commented on STGW. Benchmark boosted their price objective on 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 restated a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Stagwell presently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Stagwell Stock Performance

STGW stock traded up $0.32 during trading on Monday, hitting $7.62. 95,806 shares of the company traded hands, compared to its average volume of 530,321. The stock’s 50-day simple moving average is $6.97 and its 200 day simple moving average is $6.85. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $2.01 billion, a PE ratio of 24.33 and a beta of 1.35. Stagwell has a 1 year low of $4.84 and a 1 year high of $7.99.

Institutional Trading of Stagwell

Several large investors have recently made changes to their positions in STGW. Quarry LP purchased a new stake in shares of Stagwell during the second quarter worth approximately $29,000. Paloma Partners Management Co purchased a new stake in shares of Stagwell during the third quarter worth approximately $77,000. Hsbc Holdings PLC increased its position in shares of Stagwell by 25.1% during the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after purchasing an additional 3,360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Stagwell by 59.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock worth $114,000 after purchasing an additional 6,058 shares in the last quarter. Finally, FMR LLC increased its position in shares of Stagwell by 370.3% during the third quarter. FMR LLC now owns 16,831 shares of the company’s stock worth $118,000 after purchasing an additional 13,252 shares in the last quarter. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

About Stagwell

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.