Stagwell (NASDAQ:STGW) Sets New 12-Month High – Here’s What Happened

Stagwell Inc. (NASDAQ:STGW) shares reached a new 52-week high on Monday . The company traded as high as $8.04 and last traded at $8.01, with a volume of 133175 shares changing hands. The stock had previously closed at $7.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Benchmark raised their price target on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities lifted their target price on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a 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 data from MarketBeat, Stagwell currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Trading Down 2.2 %

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 business’s 50-day moving average is $7.06 and its 200 day moving average is $6.89. The firm has a market capitalization of $2.08 billion, a P/E ratio of 26.40 and a beta of 1.35.

Institutional Investors Weigh In On Stagwell

A number of hedge funds and other institutional investors have recently made changes to their positions in STGW. Quarry LP acquired a new stake in Stagwell during the second quarter worth approximately $29,000. Paloma Partners Management Co acquired a new stake in shares of Stagwell during the 3rd quarter worth $77,000. Hsbc Holdings PLC increased its position in shares of Stagwell by 25.1% in 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Stagwell by 59.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,214 shares of the company’s stock valued at $114,000 after purchasing an additional 6,058 shares in the last quarter. Finally, FMR LLC lifted its position in 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 during the period. 35.61% of the stock is currently 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.