STUB (NYSE:STUB) Shares Gap Up – Here’s Why

Shares of STUB (NYSE:STUB) gapped up prior to trading on Friday . The stock had previously closed at $5.94, but opened at $6.40. STUB shares last traded at $6.2440, with a volume of 1,423,176 shares trading hands.

Wall Street Analyst Weigh In

STUB has been the subject of several recent research reports. Weiss Ratings raised STUB from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 7th. Mizuho set a $11.00 price objective on STUB in a research report on Friday, August 14th. Wall Street Zen lowered STUB from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Citigroup upgraded STUB from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $9.00 to $7.00 in a research report on Friday. Finally, Guggenheim cut their target price on shares of STUB from $12.50 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, STUB has an average rating of “Hold” and an average target price of $10.33.

STUB Stock Performance

The stock has a 50-day moving average price of $7.75 and a 200 day moving average price of $8.48. The firm has a market cap of $2.32 billion and a PE ratio of -1.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.04 and a quick ratio of 1.04.

Insider Transactions at STUB

In other news, insider Scott Michael Fitzgerald sold 84,970 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.08, for a total value of $601,587.60. Following the transaction, the insider directly owned 110,383 shares in the company, valued at $781,511.64. This trade represents a 43.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Constance James sold 116,644 shares of STUB stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $7.06, for a total value of $823,506.64. Following the completion of the transaction, the chief financial officer directly owned 349,934 shares in the company, valued at $2,470,534.04. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,138,912 shares of company stock valued at $8,690,701. 30.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Pittenger & Anderson Inc. purchased a new stake in STUB during the first quarter worth approximately $34,000. Royal Bank of Canada raised its stake in shares of STUB by 194.4% in the 1st quarter. Royal Bank of Canada now owns 6,382 shares of the company’s stock valued at $39,000 after acquiring an additional 4,214 shares during the period. Lido Advisors LLC acquired a new position in shares of STUB during the 1st quarter valued at $69,000. Rose Capital Advisors LLC acquired a new position in shares of STUB during the 2nd quarter valued at $183,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in STUB during the 1st quarter worth $164,000.

About STUB

StubHub Holdings, Inc operates a global online marketplace for buying and selling tickets to live events. Its platform connects fans with tickets for sporting events, concerts, theater productions and other entertainment experiences, while providing tools for ticket discovery, purchasing, listing and resale.

The company serves customers through its website and mobile applications under the StubHub brand, offering inventory from professional sellers, event partners and individual ticket holders.