Stagwell (NASDAQ:STGW) Hits New 52-Week High – Here’s What Happened

Stagwell Inc. (NASDAQ:STGW) shares reached a new 52-week high during mid-day trading on Thursday . The stock 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.

Analyst Ratings Changes

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

Stagwell Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $2.02 billion, a PE ratio of 25.57 and a beta of 1.35. The firm has a 50 day moving average price of $6.94 and a 200-day moving average price of $6.83.

Hedge Funds Weigh In On Stagwell

A number of institutional investors have recently modified their holdings of STGW. Quarry LP acquired a new position in Stagwell in the 2nd quarter worth about $29,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 buying an additional 6,058 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after buying an additional 3,360 shares during the period. FMR LLC lifted its position in shares of Stagwell by 370.3% during the 3rd quarter. FMR LLC now owns 16,831 shares of the company’s stock valued at $118,000 after buying an additional 13,252 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Stagwell in the 3rd quarter valued at $136,000. Hedge funds and other 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.