STUB (NYSE:STUB) Trading Up 4.1% – Here’s What Happened

Shares of STUB (NYSE:STUB) were up 4.1% on Tuesday . The company traded as high as $6.49 and last traded at $6.42. Approximately 468,704 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,107,290 shares. The stock had previously closed at $6.17.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STUB shares. Guggenheim dropped their price target on STUB from $9.00 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Wedbush restated a “neutral” rating and issued a $10.00 price target (down from $18.00) on shares of STUB in a research report on Thursday, March 5th. Weiss Ratings initiated coverage on STUB in a research report on Wednesday, January 14th. They set a “sell (d-)” rating for the company. Craig Hallum initiated coverage on STUB in a research report on Thursday, January 29th. They set a “hold” rating and a $12.00 price objective for the company. Finally, Citigroup upgraded STUB from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.75.

STUB Trading Down 1.2%

The business has a 50 day moving average price of $8.60. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.27 billion and a PE ratio of -9.66.

STUB (NYSE:STUB) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($1.55). The business had revenue of $449.17 million during the quarter. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year.

Insider Transactions at STUB

In other STUB news, insider Scott Michael Fitzgerald sold 28,387 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $7.66, for a total value of $217,444.42. Following the sale, the insider directly owned 77,961 shares of the company’s stock, valued at approximately $597,181.26. This trade represents a 26.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On STUB

Several hedge funds and other institutional investors have recently modified their holdings of the company. Galaxy Group Investments LLC acquired a new position in shares of STUB in the 4th quarter valued at about $4,488,000. Empowered Funds LLC acquired a new position in shares of STUB in the 4th quarter valued at about $1,657,000. PointState Capital LP lifted its stake in shares of STUB by 19.9% in the 4th quarter. PointState Capital LP now owns 24,823,335 shares of the company’s stock valued at $335,860,000 after purchasing an additional 4,117,332 shares in the last quarter. Moore Capital Management LP acquired a new position in shares of STUB in the 4th quarter valued at about $5,666,000. Finally, Engineers Gate Manager LP acquired a new position in shares of STUB in the 4th quarter valued at about $161,000.

About STUB

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.