Stagwell (NASDAQ:STGW) Reaches New 1-Year High – Still a Buy?

Stagwell Inc. (NASDAQ:STGW)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.03 and last traded at $8.03, with a volume of 167 shares trading hands. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

STGW has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $8.00 price target on shares of Stagwell in a report on Monday, August 5th. Benchmark raised their target price on Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.50 price target on shares of Stagwell in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Stagwell currently has an average rating of “Moderate Buy” and an average target price of $8.30.

Stagwell Trading Down 2.1 %

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 stock has a market cap of $1.92 billion, a PE ratio of 25.57 and a beta of 1.35. The company’s fifty day moving average is $6.95 and its 200-day moving average is $6.84.

Hedge Funds Weigh In On Stagwell

Several institutional investors and hedge funds have recently modified their holdings of STGW. Clear Harbor Asset Management LLC grew its holdings in Stagwell by 1.2% during the second quarter. Clear Harbor Asset Management LLC now owns 126,117 shares of the company’s stock worth $860,000 after acquiring an additional 1,500 shares during the period. Allegheny Financial Group LTD boosted its position in Stagwell by 5.8% in the 2nd quarter. Allegheny Financial Group LTD now owns 44,327 shares of the company’s stock worth $302,000 after purchasing an additional 2,423 shares in the last quarter. Hsbc Holdings PLC boosted its position in Stagwell by 25.1% in the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after purchasing an additional 3,360 shares in the last quarter. Quarry LP acquired a new stake in shares of Stagwell during the 2nd quarter worth approximately $29,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Stagwell by 16.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after purchasing an additional 4,961 shares in the last quarter. Institutional investors and hedge funds 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.