Stagwell (NASDAQ:STGW) Hits New 52-Week High Following Analyst Upgrade

Stagwell Inc. (NASDAQ:STGW)’s stock price reached a new 52-week high during mid-day trading on Friday after Benchmark raised their price target on the stock from $8.50 to $9.50. Benchmark currently has a buy rating on the stock. Stagwell traded as high as $7.77 and last traded at $7.77, with a volume of 470377 shares traded. The stock had previously closed at $7.33.

Other analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a report on Monday, October 21st. Rosenblatt Securities restated a “buy” rating and set a $8.00 price objective on shares of Stagwell in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stagwell has an average rating of “Moderate Buy” and a consensus price target of $8.30.

Institutional Investors Weigh In On Stagwell

A number of institutional investors and hedge funds have recently modified their holdings of STGW. Harbor Capital Advisors Inc. lifted its position in shares of Stagwell by 123.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock valued at $8,716,000 after buying an additional 685,164 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Stagwell by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock valued at $36,306,000 after purchasing an additional 452,874 shares during the last quarter. CCG Wealth Management LLC bought a new position in Stagwell during the second quarter worth $3,008,000. Lighthouse Investment Partners LLC acquired a new position in shares of Stagwell in the second quarter valued at $2,316,000. Finally, Huber Capital Management LLC bought a new position in shares of Stagwell in the first quarter valued at about $1,410,000. 35.61% of the stock is owned by institutional investors.

Stagwell Trading Up 6.0 %

The company has a market cap of $2.05 billion, a price-to-earnings ratio of -366.50 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.95. The business’s 50 day moving average price is $6.89 and its 200-day moving average price is $6.78.

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.