Capital World Investors Cuts Stock Position in STUB $STUB

Capital World Investors reduced its position in STUB (NYSE:STUB) by 77.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,109,422 shares of the company’s stock after selling 3,875,170 shares during the quarter. Capital World Investors owned 0.30% of STUB worth $15,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC boosted its holdings in shares of STUB by 20.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 36,440 shares of the company’s stock worth $493,000 after purchasing an additional 6,070 shares in the last quarter. Garner Asset Management Corp purchased a new position in shares of STUB in the 4th quarter worth about $92,000. International Assets Investment Management LLC purchased a new position in shares of STUB in the 4th quarter worth about $149,000. Intellectus Partners LLC purchased a new position in shares of STUB in the 4th quarter worth about $467,000. Finally, Cibc World Market Inc. purchased a new position in shares of STUB in the 4th quarter worth about $575,000.

Insider Buying and Selling at STUB

In other news, insider Mark Streams sold 232,567 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 235,799 shares of company stock valued at $2,125,140.

STUB Trading Up 3.5%

NYSE STUB opened at $10.36 on Wednesday. STUB has a 1-year low of $5.74 and a 1-year high of $27.89. 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 firm has a 50-day moving average of $7.96. The company has a market cap of $3.89 billion and a price-to-earnings ratio of -17.27.

STUB (NYSE:STUB) last released its earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The company had revenue of $446.05 million during the quarter. STUB’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, equities research analysts forecast that STUB will post 0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of STUB in a report on Thursday, June 4th. JPMorgan Chase & Co. upped 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. Morgan Stanley upped their price objective on STUB from $8.25 to $8.75 and gave the stock an “equal weight” rating in a report on Thursday, May 14th. BMO Capital Markets cut STUB from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 19th. Finally, Citigroup started coverage on STUB in a report on Tuesday, May 19th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.32.

STUB 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.