Pine Ridge Advisers LLC Acquires New Stake in STUB $STUB

Pine Ridge Advisers LLC acquired a new stake in STUB (NYSE:STUB) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 659,840 shares of the company’s stock, valued at approximately $4,117,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in STUB by 194.4% during the 1st quarter. Royal Bank of Canada now owns 6,382 shares of the company’s stock worth $39,000 after purchasing an additional 4,214 shares during the last quarter. Rokos Capital Management LLP raised its position in shares of STUB by 40.4% in the first quarter. Rokos Capital Management LLP now owns 2,143,423 shares of the company’s stock valued at $13,375,000 after buying an additional 616,892 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of STUB by 481.5% in the first quarter. The Manufacturers Life Insurance Company now owns 61,330 shares of the company’s stock valued at $383,000 after buying an additional 50,784 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of STUB in the first quarter worth about $2,397,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of STUB in the first quarter worth about $164,000.

Insider Activity at STUB

In other news, insider Mark Streams sold 232,567 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 1,114,001 shares of the company’s stock, valued at approximately $10,070,569.04. This trade represents a 17.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nayaab Islam sold 54,801 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.03, for a total transaction of $714,057.03. Following the completion of the transaction, the insider directly owned 8,454,764 shares of the company’s stock, valued at $110,165,574.92. This represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 413,647 shares of company stock worth $4,401,046. Company insiders own 30.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on STUB shares. Wall Street Zen raised shares of STUB from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their target price on shares of STUB from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings upgraded STUB from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 7th. Morgan Stanley upped their price target on STUB from $8.75 to $10.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 10th. Finally, Craig Hallum cut STUB from a “hold” rating to a “hold” rating in a report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.50.

STUB Price Performance

NYSE STUB opened at $8.55 on Wednesday. The firm has a 50-day moving average of $10.65. STUB has a 12 month low of $5.74 and a 12 month high of $27.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $3.21 billion and a PE ratio of -14.26.

STUB (NYSE:STUB) last announced its earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.07. The company had revenue of $446.05 million for the quarter. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts anticipate that STUB will post 0.56 EPS for the current year.

About STUB

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.