STUB (NYSE:STUB) Shares Up 5.4% – What’s Next?

STUB (NYSE:STUB)’s stock price was up 5.4% on Wednesday. The company traded as high as $6.01 and last traded at $6.0370. 2,687,676 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 5,611,216 shares. The stock had previously closed at $5.73.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STUB shares. Mizuho set a $11.00 price target on shares of STUB in a report on Friday, August 14th. Morgan Stanley upped their target price on STUB from $8.75 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. Bank of America reiterated an “underperform” rating and issued a $7.50 price target (down from $11.00) on shares of STUB in a report on Thursday, August 13th. TD Cowen reduced their price target on STUB from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Finally, Guggenheim decreased their price objective on STUB from $12.50 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.33.

STUB Price Performance

The firm has a market cap of $2.30 billion and a PE ratio of -1.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average price of $6.77 and a two-hundred day moving average price of $8.23.

STUB (NYSE:STUB) last issued its earnings results on Wednesday, August 12th. The company reported $0.02 earnings per share (EPS) 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 firm had revenue of $573.07 million during the quarter. As a group, equities analysts expect that STUB will post 0.38 earnings per share for the current year.

Insider Transactions at STUB

In other STUB news, insider Mark Streams sold 150,000 shares of STUB stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $6.76, for a total transaction of $1,014,000.00. Following the completion of the sale, the insider directly owned 1,404,222 shares in the company, valued at approximately $9,492,540.72. The trade was a 9.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nayaab Islam sold 219,736 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $6.78, for a total transaction of $1,489,810.08. Following the completion of the sale, the insider owned 8,232,228 shares in the company, valued at $55,814,505.84. The trade was a 2.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 991,338 shares of company stock valued at $6,692,030. 30.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On STUB

Several institutional investors and hedge funds have recently modified their holdings of STUB. Pittenger & Anderson Inc. purchased a new position in STUB during the first quarter valued at approximately $34,000. Royal Bank of Canada grew its stake in shares of 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 period. Lido Advisors LLC acquired a new position in shares of STUB in the 1st quarter valued at $69,000. Rose Capital Advisors LLC purchased a new stake in STUB during the second quarter worth $183,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in STUB in the first quarter valued at $164,000.

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.