Stagwell Inc. (NASDAQ:STGW - Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 5,120,000 shares, a growth of 18.5% from the April 30th total of 4,320,000 shares. Approximately 4.5% of the shares of the stock are short sold. Based on an average daily volume of 838,600 shares, the days-to-cover ratio is currently 6.1 days.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Benchmark downgraded Stagwell from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their price objective on shares of Stagwell from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $9.00 target price on shares of Stagwell in a research report on Thursday, April 3rd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price target on shares of Stagwell in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.60.
View Our Latest Stock Report on STGW
Insiders Place Their Bets
In other Stagwell news, CEO Mark Jeffery Penn acquired 10,000 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was bought at an average price of $4.87 per share, for a total transaction of $48,700.00. Following the acquisition, the chief executive officer now owns 9,014,055 shares in the company, valued at approximately $43,898,447.85. The trade was a 0.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charlene Barshefsky acquired 24,350 shares of the stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $4.30 per share, for a total transaction of $104,705.00. Following the purchase, the director now directly owns 185,316 shares of the company's stock, valued at $796,858.80. The trade was a 15.13% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 36,436 shares of company stock worth $163,314. 5.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Stagwell
Hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Stagwell in the fourth quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Stagwell during the 4th quarter worth $69,000. Vident Advisory LLC purchased a new stake in Stagwell during the 1st quarter worth about $64,000. BNP Paribas Financial Markets acquired a new stake in Stagwell in the 4th quarter valued at about $75,000. Finally, AQR Capital Management LLC acquired a new position in shares of Stagwell during the first quarter worth about $74,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.
Stagwell Trading Up 5.0%
Shares of NASDAQ STGW traded up $0.22 during trading on Friday, reaching $4.51. The stock had a trading volume of 1,083,481 shares, compared to its average volume of 629,418. The business's 50-day moving average price is $5.20 and its 200-day moving average price is $6.15. Stagwell has a fifty-two week low of $4.03 and a fifty-two week high of $8.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1.21 billion, a P/E ratio of -449.50 and a beta of 1.44.
Stagwell (NASDAQ:STGW - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.05). Stagwell had a net margin of 0.01% and a return on equity of 8.03%. The firm had revenue of $651.74 million during the quarter, compared to analyst estimates of $686.46 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The business's revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Stagwell will post 0.59 EPS for the current fiscal year.
About Stagwell
(
Get Free Report)
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.
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