Stagwell (NASDAQ:STGW) Shares Gap Up – Time to Buy?

Stagwell Inc. (NASDAQ:STGW) gapped up before the market opened on Friday . The stock had previously closed at $6.15, but opened at $6.60. Stagwell shares last traded at $6.70, with a volume of 116,988 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Benchmark increased their price target on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded shares of Stagwell from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $9.00 in a research report on Friday. Finally, Rosenblatt Securities restated a “buy” rating and set a $9.00 target price on shares of Stagwell in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Stagwell presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.58.

Stagwell Price Performance

The firm has a market cap of $1.74 billion, a P/E ratio of 20.70 and a beta of 1.44. The business’s fifty day simple moving average is $6.50 and its 200-day simple moving average is $6.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97.

Hedge Funds Weigh In On Stagwell

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of Stagwell by 2,968.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,193,355 shares of the company’s stock valued at $7,852,000 after purchasing an additional 1,154,458 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Stagwell by 123.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock worth $8,716,000 after purchasing an additional 685,164 shares during the period. 683 Capital Management LLC grew its position in Stagwell by 94.8% during the 4th quarter. 683 Capital Management LLC now owns 750,000 shares of the company’s stock worth $4,935,000 after acquiring an additional 365,000 shares during the last quarter. First Trust Advisors LP purchased a new position in Stagwell in the 4th quarter worth approximately $1,316,000. Finally, Northern Trust Corp increased its stake in shares of Stagwell by 24.2% during the fourth quarter. Northern Trust Corp now owns 950,179 shares of the company’s stock valued at $6,252,000 after purchasing an additional 185,103 shares in the last quarter. 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.