STUB (NYSE:STUB) Shares Climb 6.7% – Here’s Why

STUB (NYSE:STUB)’s share price was up 6.7% on Wednesday. The stock traded as high as $5.66 and last traded at $5.6650. 3,849,476 shares were traded during trading, a decline of 31% from the average session volume of 5,601,365 shares. The stock had previously closed at $5.31.

Wall Street Analyst Weigh In

STUB has been the subject of a number of recent analyst reports. Weiss Ratings upgraded STUB from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 7th. UBS Group set a $7.50 price target on shares of STUB in a research note on Thursday, August 13th. Oppenheimer reduced their price objective on shares of STUB from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 13th. Morgan Stanley raised their price objective on shares of STUB from $8.75 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. Finally, Bank of America reissued an “underperform” rating and issued a $7.50 target price (down from $11.00) on shares of STUB in a research report on Thursday, August 13th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, STUB has an average rating of “Hold” and a consensus target price of $10.33.

STUB Trading Down 0.3%

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.04 and a quick ratio of 1.04. The business’s fifty day simple moving average is $6.94 and its 200 day simple moving average is $8.27. The stock has a market cap of $2.13 billion and a price-to-earnings ratio of -0.97.

STUB (NYSE:STUB) last issued its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). STUB had a negative return on equity of 9.50% and a negative net margin of 93.54%.The business had revenue of $573.07 million for the quarter. On average, research analysts predict that STUB will post 0.38 EPS for the current year.

Insider Buying and Selling

In related news, CFO Constance P. James sold 116,644 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $7.06, for a total value of $823,506.64. Following the sale, the chief financial officer owned 349,934 shares of the company’s stock, valued at approximately $2,470,534.04. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Streams sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $6.76, for a total value of $1,014,000.00. Following the transaction, the insider owned 1,404,222 shares of the company’s stock, valued at $9,492,540.72. This represents a 9.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,077,870 shares of company stock valued at $7,822,393. 30.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On STUB

Institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC bought a new stake in STUB during the 2nd quarter valued at $7,953,000. WINTON GROUP Ltd raised its holdings in shares of STUB by 194.6% in the 2nd quarter. WINTON GROUP Ltd now owns 43,600 shares of the company’s stock worth $561,000 after purchasing an additional 28,800 shares in the last quarter. Rose Capital Advisors LLC acquired a new stake in STUB during the second quarter valued at approximately $183,000. Comprehensive Financial Management LLC boosted its holdings in STUB by 13.6% during the second quarter. Comprehensive Financial Management LLC now owns 390,543 shares of the company’s stock worth $5,026,000 after buying an additional 46,808 shares in the last quarter. Finally, Stephens Group LLC boosted its holdings in STUB by 193.2% during the second quarter. Stephens Group LLC now owns 1,022,413 shares of the company’s stock worth $13,158,000 after buying an additional 673,715 shares in the last quarter.

About STUB

StubHub Holdings, Inc operates online ticket marketplaces that connect buyers and sellers of tickets for live events. Through the StubHub and viagogo platforms, the company offers tickets to sporting events, concerts, theater productions, festivals and other entertainment experiences. Its services generally include ticket discovery, digital transactions, delivery and customer support.

StubHub was founded in 2000 by Eric Baker and Jeff Fluhr. eBay acquired the company in 2007, and StubHub was later sold to viagogo in 2020.