STUB (NYSE:STUB) Shares Down 4.5% – Here’s Why

Shares of STUB (NYSE:STUB) were down 4.5% during trading on Monday . The stock traded as low as $6.17 and last traded at $6.15. Approximately 712,489 shares were traded during trading, a decline of 83% from the average daily volume of 4,093,176 shares. The stock had previously closed at $6.44.

Analysts Set New Price Targets

STUB has been the topic of several research analyst reports. Oppenheimer lowered their price objective on STUB from $20.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Guggenheim decreased their price target on shares of STUB from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $10.00 price target (down from $22.00) on shares of STUB in a research note on Thursday, March 5th. Wall Street Zen raised STUB from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective (down from $18.00) on shares of STUB in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.75.

STUB Trading Down 3.8%

The company has a 50 day simple moving average of $9.07. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.04 and a quick ratio of 1.03. The firm has a market capitalization of $2.21 billion and a price-to-earnings ratio of -9.40.

STUB (NYSE:STUB) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($1.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($1.55). The company had revenue of $449.17 million for the quarter. STUB’s quarterly revenue was down 15.8% compared to the same quarter last year.

Insider Activity

In other news, insider Scott Michael Fitzgerald sold 28,387 shares of STUB stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $7.66, for a total value of $217,444.42. Following the completion of the transaction, the insider owned 77,961 shares in the company, valued at approximately $597,181.26. The trade was a 26.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of STUB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Galaxy Group Investments LLC bought a new position in STUB during the fourth quarter valued at $4,488,000. Empowered Funds LLC bought a new stake in shares of STUB in the 4th quarter worth about $1,657,000. PointState Capital LP lifted its holdings in shares of STUB by 19.9% in the 4th quarter. PointState Capital LP now owns 24,823,335 shares of the company’s stock worth $335,860,000 after acquiring an additional 4,117,332 shares during the last quarter. Moore Capital Management LP purchased a new position in shares of STUB during the 4th quarter worth about $5,666,000. Finally, Engineers Gate Manager LP bought a new position in STUB during the 4th quarter valued at about $161,000.

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.