STUB (NYSE:STUB) Receives Average Recommendation of “Hold” from Brokerages

Shares of STUB (NYSE:STUB) have received a consensus rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $11.50.

STUB has been the subject of a number of recent research reports. Wall Street Zen cut STUB from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. UBS Group started coverage on STUB in a report on Tuesday, May 19th. They set a “neutral” rating on the stock. Morgan Stanley raised their price target on STUB from $8.75 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price objective on shares of STUB from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, BMO Capital Markets cut shares of STUB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 19th.

Insider Activity

In related news, insider Mark Streams sold 232,567 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.04, for a total transaction of $2,102,405.68. Following the transaction, the insider directly owned 1,114,001 shares in the company, valued at approximately $10,070,569.04. This represents a 17.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nayaab Islam sold 54,801 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.03, for a total transaction of $714,057.03. Following the completion of the sale, the insider directly owned 8,454,764 shares in the company, valued at $110,165,574.92. This trade represents a 0.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 412,066 shares of company stock worth $4,366,738 over the last quarter. 30.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On STUB

Several hedge funds and other institutional investors have recently modified their holdings of STUB. WestCap Management LLC bought a new stake in shares of STUB during the 4th quarter worth approximately $429,370,000. PointState Capital LP grew its position in 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 acquiring an additional 4,117,332 shares during the last quarter. Capital Research Global Investors bought a new position in STUB in the 4th quarter valued at $106,887,000. Index Venture Associates III Ltd purchased a new stake in STUB in the fourth quarter worth $85,192,000. Finally, Capital International Investors purchased a new stake in STUB in the fourth quarter worth $55,235,000.

STUB Trading Down 0.8%

Shares of NYSE STUB opened at $13.58 on Wednesday. The firm’s 50-day simple moving average is $10.11. 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 stock has a market cap of $5.10 billion and a PE ratio of -22.64. STUB has a 12-month low of $5.74 and a 12-month high of $27.89.

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

Key Stories Impacting STUB

Here are the key news stories impacting STUB this week:

• Negative Sentiment: Multiple insiders, including Nayaab Islam and Mark Streams, have sold shares in recent days, with the largest disclosed sale being 54,801 shares by Islam. Although the trades were made under pre-arranged 10b5-1 plans, the volume of selling may weigh on sentiment. STUB insider selling alert
• Negative Sentiment: StubHub is reportedly being probed in Texas over alleged “ghost ticketing” charges, creating a potential legal and reputational headwind for STUB. StubHub under investigation in Texas over ghost ticketing charges
• Neutral Sentiment: Recent quarterly results were solid, with earnings of $0.06 per share beating expectations and revenue rising 12.2% year over year, which provides some fundamental support even as sentiment is being driven by insider activity and the investigation. STUB quarterly results and stock information

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.