STUB (NYSE:STUB) Stock Price Down 5.4% – Here’s Why

STUB (NYSE:STUB)’s share price was down 5.4% on Thursday . The stock traded as low as $12.04 and last traded at $12.0150. 1,820,517 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 5,121,646 shares. The stock had previously closed at $12.70.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of STUB from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. UBS Group began coverage on STUB in a research note on Tuesday, May 19th. They set a “neutral” rating on the stock. Guggenheim reissued a “buy” rating on shares of STUB in a report on Friday, June 12th. Citigroup started coverage on STUB in a research note on Tuesday, May 19th. They issued a “buy” rating for the company. Finally, Morgan Stanley boosted their target price on shares of STUB from $8.75 to $10.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 10th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.50.

STUB Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $4.48 billion and a P/E ratio of -19.86. The company has a fifty day moving average of $10.22.

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

Insider Buying and Selling at STUB

In other news, insider Mark Streams sold 232,567 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.04, for a total transaction of $2,102,405.68. Following the completion of the transaction, the insider owned 1,114,001 shares of the company’s stock, valued at approximately $10,070,569.04. The trade was a 17.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nayaab Islam sold 54,801 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 8,454,764 shares of the company’s stock, valued at $110,165,574.92. This trade represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 412,066 shares of company stock worth $4,366,738. Corporate insiders own 30.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in STUB. Royal Bank of Canada grew its holdings in shares of STUB by 194.4% during the 1st quarter. Royal Bank of Canada now owns 6,382 shares of the company’s stock valued at $39,000 after purchasing an additional 4,214 shares during the last quarter. Ardmore Road Asset Management LP lifted its stake in STUB by 25.0% in the 4th quarter. Ardmore Road Asset Management LP now owns 25,000 shares of the company’s stock valued at $338,000 after purchasing an additional 5,000 shares during the last quarter. Pittenger & Anderson Inc. acquired a new stake in STUB in the first quarter valued at approximately $34,000. Cornerstone Wealth Management LLC grew its stake in shares of STUB by 20.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 36,440 shares of the company’s stock worth $493,000 after buying an additional 6,070 shares during the last quarter. Finally, Garner Asset Management Corp bought a new stake in shares of STUB during the fourth quarter worth $92,000.

STUB Company Profile

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.