STUB (NYSE:STUB) Shares Down 9.5% – Here’s Why

STUB (NYSE:STUB)’s share price fell 9.5% during trading on Monday . The stock traded as low as $7.38 and last traded at $7.3120. Approximately 1,114,913 shares traded hands during trading, a decline of 79% from the average session volume of 5,352,668 shares. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

STUB has been the subject of several recent analyst reports. HSBC upgraded shares of STUB to a “buy” rating in a report on Tuesday, May 19th. Evercore set a $14.00 price objective on STUB in a research note on Thursday. Craig Hallum cut STUB from a “hold” rating to a “hold” rating in a research note on Tuesday, May 19th. Sanford C. Bernstein raised STUB to an “outperform” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of STUB from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.73.

STUB Trading Down 10.6%

The firm has a market capitalization of $2.71 billion and a P/E ratio of -1.26. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50 day moving average price of $10.35 and a two-hundred day moving average price of $9.18.

Insider Transactions at STUB

In related news, insider Mark Streams sold 28,531 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.02, for a total value of $371,473.62. Following the completion of the sale, the insider owned 1,561,122 shares in the company, valued at approximately $20,325,808.44. This represents a 1.79% decrease in their position. The sale was disclosed in a legal filing 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 STUB stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.03, for a total transaction of $714,057.03. Following the transaction, the insider owned 8,454,764 shares in the company, valued at approximately $110,165,574.92. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 179,467 shares of company stock worth $2,286,430 in the last three months. 30.97% of the stock is currently owned by company insiders.

Institutional Trading of STUB

Several hedge funds and other institutional investors have recently modified their holdings of STUB. Pittenger & Anderson Inc. purchased a new stake in STUB in the 1st quarter worth about $34,000. Royal Bank of Canada grew 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 valued at $39,000 after acquiring an additional 4,214 shares in the last quarter. Lido Advisors LLC purchased a new position in STUB during the 1st quarter valued at about $69,000. Garner Asset Management Corp acquired a new position in shares of STUB in the 4th quarter valued at about $92,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of STUB in the 4th quarter valued at about $143,000.

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.