Stagwell (NASDAQ:STGW) Raised to “Overweight” at Wells Fargo & Company

Stagwell (NASDAQ:STGW) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, Marketbeat.com reports. The firm presently has a $9.00 price target on the stock, up from their previous price target of $8.00. Wells Fargo & Company‘s target price would indicate a potential upside of 42.86% from the company’s previous close.

A number of other equities analysts have also recently weighed in on STGW. Rosenblatt Securities reissued a “buy” rating and set a $9.00 price target on shares of Stagwell in a research report on Friday, February 14th. Benchmark lifted their price target on shares of 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 five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.58.

Stagwell Price Performance

STGW opened at $6.30 on Friday. The company has a fifty day moving average price of $6.48 and a two-hundred day moving average price of $6.86. The firm has a market capitalization of $1.66 billion, a PE ratio of 20.50 and a beta of 1.44. Stagwell has a 52 week low of $4.88 and a 52 week high of $8.18. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95.

Institutional Investors Weigh In On Stagwell

Several institutional investors have recently added to or reduced their stakes in STGW. JPMorgan Chase & Co. lifted its position in Stagwell by 2,968.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,193,355 shares of the company’s stock valued at $7,852,000 after acquiring an additional 1,154,458 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Stagwell by 123.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock worth $8,716,000 after buying an additional 685,164 shares in the last quarter. 683 Capital Management LLC lifted 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 buying an additional 365,000 shares in the last quarter. First Trust Advisors LP bought a new stake in Stagwell during the 4th quarter worth about $1,316,000. Finally, Northern Trust Corp lifted its position in Stagwell by 24.2% during the 4th quarter. Northern Trust Corp now owns 950,179 shares of the company’s stock worth $6,252,000 after buying an additional 185,103 shares in the last quarter. 35.61% of the stock is owned by 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.