STUB (NYSE:STUB) Shares Down 9% – Here’s What Happened

STUB (NYSE:STUB) traded down 9% during trading on Wednesday . The company traded as low as $9.70 and last traded at $9.7090. 4,180,890 shares were traded during mid-day trading, a decline of 19% from the average session volume of 5,172,838 shares. The stock had previously closed at $10.67.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on STUB shares. Wall Street Zen lowered STUB from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Sanford C. Bernstein raised STUB to an “outperform” rating in a research note on Tuesday, May 19th. Guggenheim restated a “buy” rating on shares of STUB in a report on Friday, June 12th. JPMorgan Chase & Co. increased their price objective on STUB from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Weiss Ratings raised shares of STUB from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, STUB currently has an average rating of “Hold” and an average target price of $11.50.

STUB Price Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $3.61 billion and a PE ratio of -15.90. The stock has a fifty day simple moving average of $10.49.

STUB (NYSE:STUB) last posted its earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.07. The company had revenue of $446.05 million for the quarter. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts expect that STUB will post 0.56 EPS for the current year.

Insider Buying and Selling

In related news, insider Nayaab Islam sold 54,801 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.03, for a total value of $714,057.03. Following the completion of the sale, the insider directly owned 8,454,764 shares in the company, valued at approximately $110,165,574.92. The trade was a 0.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Streams sold 232,567 shares of the company’s stock in a transaction that occurred on 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 directly owned 1,114,001 shares of the company’s stock, valued at $10,070,569.04. The trade was a 17.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 413,647 shares of company stock worth $4,401,046 over the last three months. 30.97% of the stock is owned by company insiders.

Institutional Trading of STUB

Large investors have recently modified their holdings of the company. Pittenger & Anderson Inc. acquired a new position in STUB in the 1st quarter valued at $34,000. Royal Bank of Canada lifted its position in STUB by 194.4% during the 1st 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. Lido Advisors LLC acquired a new position in STUB during the 1st quarter worth $69,000. Garner Asset Management Corp bought a new stake in STUB during the fourth quarter valued at about $92,000. Finally, The Manufacturers Life Insurance Company bought a new stake in STUB during the fourth quarter valued at about $143,000.

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.