Stagwell (NASDAQ:STGW) Trading 7.6% Higher – Here’s Why

Stagwell Inc. (NASDAQ:STGW) shares shot up 7.6% during trading on Thursday . The stock traded as high as $6.73 and last traded at $6.71. 180,248 shares were traded during trading, a decline of 38% from the average session volume of 290,305 shares. The stock had previously closed at $6.24.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STGW. Benchmark raised their price objective 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 boosted their price target on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.50 target price on shares of Stagwell in a research note on Monday, October 21st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Stock Up 7.5 %

The firm’s 50 day moving average price is $6.63 and its two-hundred day moving average price is $6.87. The company has a market cap of $1.77 billion, a P/E ratio of 20.97 and a beta of 1.44. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Stagwell by 304.6% during the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock worth $944,000 after purchasing an additional 101,201 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Stagwell by 4.3% during 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 in the last quarter. Principal Financial Group Inc. acquired a new position in Stagwell during the third quarter worth $229,000. FMR LLC lifted its stake in shares of Stagwell by 370.3% in the third quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after buying an additional 13,252 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Stagwell by 123.1% during 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. 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.