STUB (NYSE:STUB) Trading Down 5.4% Following Insider Selling

STUB (NYSE:STUB)’s share price fell 5.4% during trading on Thursday following insider selling activity. The stock traded as low as $12.04 and last traded at $12.0150. 1,820,517 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 5,121,646 shares. The stock had previously closed at $12.70.

Specifically, insider Nayaab Islam sold 2,800 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $14.01, for a total transaction of $39,228.00. Following the sale, the insider directly owned 8,451,964 shares in the company, valued at approximately $118,412,015.64. This represents a 0.03% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nayaab Islam sold 54,801 shares of the business’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 value of $714,057.03. Following the transaction, the insider 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, insider Nayaab Islam sold 2,099 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $13.00, for a total transaction of $27,287.00. Following the completion of the transaction, the insider directly owned 8,509,565 shares in the company, valued at $110,624,345. This represents a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STUB shares. HSBC raised shares of STUB to a “buy” rating in a research note on Tuesday, May 19th. Morgan Stanley increased their price objective on STUB from $8.75 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. UBS Group began coverage on STUB in a research report on Tuesday, May 19th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their target price on STUB from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Craig Hallum cut STUB from a “hold” rating to a “hold” rating in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, STUB currently has an average rating of “Hold” and a consensus price target of $11.50.

STUB Stock Performance

The company has a 50 day moving average of $10.37. The firm has a market capitalization of $4.18 billion and a P/E ratio of -18.54. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.96.

STUB (NYSE:STUB) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The company had revenue of $446.05 million during the quarter. STUB’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, sell-side analysts forecast that STUB will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On STUB

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STUB. Stephens Group LLC lifted its stake in shares of STUB by 193.2% in 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 during the last quarter. Bank of America Corp DE increased its position in STUB by 396.1% in the 1st quarter. Bank of America Corp DE now owns 572,790 shares of the company’s stock worth $3,574,000 after buying an additional 457,321 shares during the period. Pine Ridge Advisers LLC acquired a new position in shares of STUB during the first quarter worth approximately $4,117,000. Royal Bank of Canada grew its stake in shares of STUB by 194.4% in the first quarter. Royal Bank of Canada now owns 6,382 shares of the company’s stock worth $39,000 after acquiring an additional 4,214 shares during the last quarter. Finally, Rokos Capital Management LLP increased its position in STUB by 40.4% during the first quarter. Rokos Capital Management LLP now owns 2,143,423 shares of the company’s stock worth $13,375,000 after acquiring an additional 616,892 shares during the period.

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.