Stagwell (NASDAQ:STGW) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Stagwell (NASDAQ:STGW - Free Report) in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $6.36 target price on the stock.

STGW has been the subject of several other reports. Wells Fargo & Company reduced their target price on Stagwell from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 target price on shares of Stagwell in a research report on Thursday, April 3rd. Finally, Benchmark cut Stagwell from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th.

Stagwell Trading Up 0.5%

STGW stock traded up $0.03 during midday trading on Tuesday, hitting $5.24. 252,799 shares of the company's stock were exchanged, compared to its average volume of 980,881. The business has a 50-day simple moving average of $4.66 and a two-hundred day simple moving average of $5.51. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $1.40 billion, a PE ratio of -523.50 and a beta of 1.39. Stagwell has a 1-year low of $4.03 and a 1-year high of $8.18.

Stagwell (NASDAQ:STGW - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.05). Stagwell had a return on equity of 15.38% and a net margin of 0.02%. The company had revenue of $651.74 million for the quarter, compared to analyst estimates of $686.46 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The company's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Stagwell will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charlene Barshefsky acquired 24,350 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $4.30 per share, with a total value of $104,705.00. Following the completion of the transaction, the director directly owned 185,316 shares of the company's stock, valued at $796,858.80. This trade represents a 15.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Jeffery Penn bought 10,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average price of $4.87 per share, with a total value of $48,700.00. Following the completion of the purchase, the chief executive officer directly owned 9,014,055 shares of the company's stock, valued at approximately $43,898,447.85. This represents a 0.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 702,193 shares of company stock valued at $3,044,496. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stagwell

A number of hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Stagwell by 47.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 305,467 shares of the company's stock worth $2,010,000 after purchasing an additional 98,367 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Stagwell during the 1st quarter worth approximately $200,000. Prudential Financial Inc. purchased a new position in Stagwell during the 4th quarter worth approximately $442,000. BNP Paribas Financial Markets purchased a new position in shares of Stagwell during the 4th quarter valued at $75,000. Finally, Advisor Resource Council purchased a new position in shares of Stagwell during the 1st quarter valued at $608,000. Institutional investors own 35.61% of the company's stock.

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.