Stagwell Inc. (NASDAQ:STGW – Get Rating) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 2,290,000 shares, a drop of 14.9% from the December 31st total of 2,690,000 shares. Based on an average daily trading volume, of 388,100 shares, the days-to-cover ratio is currently 5.9 days. Approximately 2.3% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of research firms have recently weighed in on STGW. B. Riley assumed coverage on Stagwell in a research report on Tuesday, November 15th. They set a "buy" rating and a $13.00 price objective on the stock. Stephens initiated coverage on Stagwell in a report on Monday, November 14th. They set an "overweight" rating and a $10.00 price target on the stock.
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Hedge Funds Weigh In On Stagwell
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Stagwell during the 2nd quarter worth $33,000. Tower Research Capital LLC TRC grew its position in shares of Stagwell by 75.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,928 shares of the company's stock worth $34,000 after buying an additional 2,127 shares in the last quarter. Amalgamated Bank bought a new position in shares of Stagwell during the 1st quarter worth $56,000. Ensign Peak Advisors Inc bought a new position in shares of Stagwell during the 3rd quarter worth $60,000. Finally, SG Americas Securities LLC bought a new stake in Stagwell during the third quarter valued at about $76,000. Institutional investors own 38.00% of the company's stock.
Stagwell Stock Performance
STGW stock opened at $6.78 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The business's fifty day simple moving average is $6.87 and its two-hundred day simple moving average is $6.90. Stagwell has a twelve month low of $4.80 and a twelve month high of $8.28. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 25.11 and a beta of 0.99.
Stagwell (NASDAQ:STGW – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.21 earnings per share for the quarter. Stagwell had a return on equity of 5.87% and a net margin of 1.33%. The business had revenue of $663.79 million for the quarter. Analysts predict that Stagwell will post 0.56 earnings per share for the current year.
About Stagwell
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Stagwell, Inc operates as media and public relations agency. It delivers brands that connect culture-moving creativity with technology to harmonize the art and science of marketing. It operates through the following segments: Integrated Agencies Network, Media Network, Communications Network, All Other, and Corporate.
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