STUB (NYSE:STUB) Reaches New 52-Week Low – Here’s What Happened

STUB (NYSE:STUB)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $7.85 and last traded at $7.9350, with a volume of 9980882 shares trading hands. The stock had previously closed at $8.23.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Craig Hallum assumed coverage on shares of STUB in a report on Thursday, January 29th. They set a “hold” rating and a $12.00 price objective for the company. Weiss Ratings initiated coverage on shares of STUB in a report on Wednesday, January 14th. They issued a “sell (d-)” rating on the stock. Citigroup raised shares of STUB from a “sell” rating to a “neutral” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of STUB from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective (down from $18.00) on shares of STUB in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.40.

STUB Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.92 billion and a PE ratio of -13.23.

STUB (NYSE:STUB) last announced its earnings results on Wednesday, March 4th. The company reported ($1.56) EPS for the quarter, missing the consensus estimate of ($0.01) by ($1.55). The business had revenue of $449.17 million for the quarter. The business’s revenue for the quarter was down 15.8% on a year-over-year basis.

Hedge Funds Weigh In On STUB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Galaxy Group Investments LLC bought a new position in STUB during the 4th quarter worth about $9,073,000. Empowered Funds LLC acquired a new position in shares of STUB during the fourth quarter worth about $1,657,000. PointState Capital LP boosted its position in shares of STUB by 19.9% during the fourth quarter. PointState Capital LP now owns 24,823,335 shares of the company’s stock worth $335,860,000 after buying an additional 4,117,332 shares during the period. Moore Capital Management LP bought a new position in shares of STUB during the fourth quarter worth about $5,666,000. Finally, Engineers Gate Manager LP acquired a new stake in STUB in the 4th quarter valued at approximately $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.