STUB (NYSE:STUB) Shares Up 6.6% – Here’s What Happened

STUB (NYSE:STUB)’s stock price traded up 6.6% during trading on Friday . The company traded as high as $12.24 and last traded at $12.2750. 1,664,028 shares changed hands during trading, a decline of 65% from the average daily volume of 4,746,824 shares. The stock had previously closed at $11.52.

Analyst Ratings Changes

STUB has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of STUB from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Morgan Stanley increased their price target on shares of STUB from $8.75 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 10th. Wedbush restated a “neutral” rating and set a $10.00 price target (down from $18.00) on shares of STUB in a research note on Thursday, March 5th. Wall Street Zen downgraded STUB from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of STUB in a report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $11.50.

STUB Stock Up 7.3%

The company has a market capitalization of $4.64 billion and a P/E ratio of -20.60. The company’s fifty day simple moving average is $9.26. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.10 and a quick ratio of 1.10.

STUB (NYSE:STUB) last issued its earnings results on Wednesday, May 13th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.07. The firm had revenue of $446.05 million during the quarter. The business’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that STUB will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at STUB

In other STUB news, insider Mark Streams sold 232,567 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.04, for a total value of $2,102,405.68. Following the transaction, the insider directly owned 1,114,001 shares in the company, valued at $10,070,569.04. The trade was a 17.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nayaab Islam sold 25,080 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $12.05, for a total transaction of $302,214.00. Following the sale, the insider directly owned 8,538,364 shares in the company, valued at $102,887,286.20. This represents a 0.29% 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. Over the last 90 days, insiders sold 278,466 shares of company stock worth $2,626,416. Company insiders own 30.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of STUB. Bank of America Corp DE lifted its holdings in STUB by 396.1% during the 1st quarter. Bank of America Corp DE now owns 572,790 shares of the company’s stock worth $3,574,000 after buying an additional 457,321 shares in the last quarter. Pine Ridge Advisers LLC bought a new stake in shares of STUB during the first quarter worth $4,117,000. Royal Bank of Canada raised its position in shares of STUB by 194.4% during the first 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. Rokos Capital Management LLP raised its position in shares of STUB by 40.4% during the first quarter. Rokos Capital Management LLP now owns 2,143,423 shares of the company’s stock worth $13,375,000 after acquiring an additional 616,892 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of STUB by 481.5% during the first quarter. The Manufacturers Life Insurance Company now owns 61,330 shares of the company’s stock valued at $383,000 after acquiring an additional 50,784 shares during the period.

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.