Stagwell (NASDAQ:STGW) Reaches New 12-Month High – Still a Buy?

Stagwell Inc. (NASDAQ:STGW)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.04 and last traded at $8.01, with a volume of 133175 shares traded. The stock had previously closed at $7.82.

Analyst Ratings Changes

A number of brokerages recently commented on STGW. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. Rosenblatt Securities raised their price objective on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Benchmark lifted 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Stagwell currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Stagwell Price Performance

The company’s 50 day simple moving average is $7.03 and its 200-day simple moving average is $6.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 26.07 and a beta of 1.35.

Institutional Trading of Stagwell

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Stagwell by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock worth $36,306,000 after purchasing an additional 452,874 shares during the period. Dimensional Fund Advisors LP boosted its stake in Stagwell by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after buying an additional 127,099 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Stagwell by 123.1% in the 3rd 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 period. First Pacific Advisors LP grew its holdings in Stagwell by 1.8% in the 2nd quarter. First Pacific Advisors LP now owns 994,033 shares of the company’s stock valued at $6,779,000 after buying an additional 18,050 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Stagwell by 14.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock valued at $3,471,000 after acquiring an additional 64,867 shares during the last quarter. 35.61% of the stock is owned by hedge funds and other institutional investors.

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.