STUB (NYSE:STUB) Stock Price Up 6.7% – Here’s What Happened

STUB (NYSE:STUB)’s stock price was up 6.7% on Wednesday. The stock traded as high as $5.66 and last traded at $5.6650. Approximately 3,849,476 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 5,601,365 shares. The stock had previously closed at $5.31.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STUB shares. Oppenheimer cut their price target on STUB from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Morgan Stanley lifted their price objective on STUB from $8.75 to $10.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 10th. Wall Street Zen downgraded STUB from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of STUB from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 7th. Finally, Bank of America restated an “underperform” rating and set a $7.50 target price (down from $11.00) on shares of STUB in a research note on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.33.

STUB Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.86. The firm has a market cap of $2.16 billion and a PE ratio of -0.98. The stock has a 50 day simple moving average of $7.06 and a 200-day simple moving average of $8.30.

STUB (NYSE:STUB) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). STUB had a negative net margin of 93.54% and a negative return on equity of 9.50%. The business had revenue of $573.07 million for the quarter. Equities analysts anticipate that STUB will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other STUB news, CFO Constance James sold 116,644 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Streams sold 150,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $6.76, for a total transaction of $1,014,000.00. Following the sale, the insider directly owned 1,404,222 shares of the company’s stock, valued at approximately $9,492,540.72. This trade represents a 9.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,077,870 shares of company stock valued at $7,822,393 in the last 90 days. 30.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STUB

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. purchased a new position in STUB during the first quarter valued at $34,000. Royal Bank of Canada lifted its stake in STUB by 194.4% in the 1st quarter. Royal Bank of Canada now owns 6,382 shares of the company’s stock worth $39,000 after purchasing an additional 4,214 shares in the last quarter. Lido Advisors LLC bought a new position in shares of STUB during the 1st quarter valued at about $69,000. OMERS ADMINISTRATION Corp bought a new position in shares of STUB during the 1st quarter valued at about $164,000. Finally, Rose Capital Advisors LLC purchased a new position in shares of STUB during the second quarter valued at about $183,000.

STUB Company Profile

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.