STUB (NYSE:STUB) Trading 6.6% Higher – Here’s Why

Shares of STUB (NYSE:STUBGet Free Report) were up 6.6% during trading on Friday . The company traded as high as $12.24 and last traded at $12.2750. 1,664,028 shares were traded during mid-day trading, a decline of 65% from the average session volume of 4,746,824 shares. The stock had previously closed at $11.52.

Wall Street Analyst Weigh In

A number of research firms have commented on STUB. JPMorgan Chase & Co. lifted their target price on STUB from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen cut shares of STUB from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Oppenheimer decreased their target price on STUB from $20.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of STUB in a research report on Thursday, June 4th. Finally, UBS Group began coverage on STUB in a report on Tuesday, May 19th. They set a “neutral” rating for the company. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.50.

Read Our Latest Research Report on STUB

STUB Stock Up 7.1%

The stock has a market capitalization of $4.63 billion and a PE ratio of -20.52. The firm has a 50 day simple moving average of $9.15. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.10 and a quick ratio of 1.10.

STUB (NYSE:STUBGet Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $446.05 million for the quarter. The business’s revenue was up 12.2% on a year-over-year basis. On average, analysts forecast that STUB will post 0.56 earnings per share for the current year.

Insider Activity

In related news, insider Nayaab Islam sold 16,720 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $11.37, for a total transaction of $190,106.40. Following the completion of the sale, the insider owned 8,563,444 shares in the company, valued at approximately $97,366,358.28. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Streams sold 232,567 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $9.04, for a total value of $2,102,405.68. Following the sale, the insider owned 1,114,001 shares of the company’s stock, valued at $10,070,569.04. This represents a 17.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 253,386 shares of company stock worth $2,324,202 over the last 90 days. Company insiders own 30.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STUB. Bank of America Corp DE grew its holdings in STUB by 396.1% during the 1st quarter. Bank of America Corp DE now owns 572,790 shares of the company’s stock valued at $3,574,000 after buying an additional 457,321 shares in the last quarter. Pine Ridge Advisers LLC purchased a new position in shares of STUB in the first quarter worth $4,117,000. Royal Bank of Canada boosted its position in shares of STUB by 194.4% during the first quarter. Royal Bank of Canada now owns 6,382 shares of the company’s stock worth $39,000 after acquiring an additional 4,214 shares during the last quarter. Rokos Capital Management LLP boosted its position in shares of STUB by 40.4% during the first quarter. Rokos Capital Management LLP now owns 2,143,423 shares of the company’s stock worth $13,375,000 after acquiring an additional 616,892 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in STUB by 481.5% during the first quarter. The Manufacturers Life Insurance Company now owns 61,330 shares of the company’s stock valued at $383,000 after acquiring an additional 50,784 shares in the last quarter.

About STUB

(Get Free Report)

Stubhub Holdings Inc, through its subsidiaries, provides an online marketplace to buy and sell tickets for sports, concerts, theater, festivals and other live events. Stubhub Holdings Inc is based in NEW YORK.

Further Reading

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