Stagwell (NASDAQ:STGW – Free Report) had its price target decreased by Rosenblatt Securities from $12.00 to $9.00 in a report released on Wednesday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.
A number of other equities research analysts have also weighed in on the company. Stephens lowered Stagwell from an overweight rating to an equal weight rating and cut their price objective for the stock from $11.00 to $8.00 in a research report on Wednesday. Morgan Stanley started coverage on Stagwell in a research report on Wednesday, June 28th. They issued an equal weight rating and a $9.00 price objective on the stock. Needham & Company LLC restated a buy rating and issued a $10.00 target price on shares of Stagwell in a research note on Thursday, July 20th. Wells Fargo & Company lowered their target price on Stagwell from $8.00 to $7.00 and set an equal weight rating for the company in a research note on Tuesday, August 8th. Finally, Benchmark restated a buy rating and issued a $10.00 target price on shares of Stagwell in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $9.38.
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Stagwell Stock Performance
Institutional Investors Weigh In On Stagwell
Large investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Stagwell in the first quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its holdings in Stagwell by 75.9% during the third quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company’s stock valued at $34,000 after purchasing an additional 2,127 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Stagwell during the second quarter valued at approximately $33,000. New York State Teachers Retirement System purchased a new position in Stagwell during the second quarter valued at approximately $49,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Stagwell in the first quarter worth $55,000. 94.80% of the stock is currently owned by institutional investors.
Stagwell Company Profile
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)-based communications technology, cookie-less data platforms for audience targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.
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