Stagwell Inc’s filing revealed that its Chief Executive Officer Penn Mark Jeffery acquired Company’s shares for reported $52759.0 on Feb 29 ’24. In the deal valued at $5.28 per share,10,000 shares were bought. As a result of this transaction, Penn Mark Jeffery now holds 2,490,469 shares worth roughly $14.22 million.
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Then, Penn Mark Jeffery bought 10,000 shares, generating $52,000 in total proceeds. Upon buying the shares at $5.20, the Chief Executive Officer now owns 2,480,469 shares.
Before that, Oosterman Wade bought 5,000 shares. Stagwell Inc shares valued at $25,200 were divested by the Director at a price of $5.04 per share. As a result of the transaction, Oosterman Wade now holds 128,204 shares, worth roughly $0.73 million.
Craig Hallum initiated its Stagwell Inc [STGW] rating to a Buy in a research note published on October 06, 2023; the price target was $8. A number of analysts have revised their coverage, including Stephens’s analysts, who decreased its forecast for the stock in early August from “an Overweight” to “an Equal-weight”. Wells Fargo also remained covering STGW and has decreased its forecast on July 24, 2023 with a “an Equal weight” recommendation from previously “an Overweight” rating. Goldman started covering the stock on July 17, 2023. It rated STGW as “a Buy”.
Price Performance Review of STGW
On Tuesday, Stagwell Inc [NASDAQ:STGW] saw its stock jump 0.71% to $5.71. Over the last five days, the stock has lost -2.73%. Stagwell Inc shares have fallen nearly -13.88% since the year began. Nevertheless, the stocks have fallen -17.13% over the past one year. While a 52-week high of $8.59 was reached on 01/24/24, a 52-week low of $3.83 was recorded on 02/28/24. SMA at 50 days reached $6.23, while 200 days put it at $5.85. A total of 0.49 million shares were traded, compared to the trading of 0.39 million shares in the previous session.
Levels Of Support And Resistance For STGW Stock
The 24-hour chart illustrates a support level at 5.66, which if violated will result in even more drops to 5.61. On the upside, there is a resistance level at 5.81. A further resistance level may holdings at 5.90. The Relative Strength Index (RSI) on the 14-day chart is 44.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.06%. Stochastics %K at 48.40% indicates the stock is a holding.
How much short interest is there in Stagwell Inc?
A steep rise in short interest was recorded in Stagwell Inc stocks on Feb 29, 2024, growing by 0.64 million shares to a total of 4.24 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.6 million shares. There was a rise of 15.09%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.14% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.97.
The most recent change occurred on June 28, 2023 when Morgan Stanley began covering the stock and recommended ‘”an Equal-weight”‘ rating along with a $9 price target.
