STUB (NYSE:STUB) Stock Price Down 7% – Here’s Why

STUB (NYSE:STUB) traded down 7% during mid-day trading on Tuesday . The stock traded as low as $6.14 and last traded at $6.1410. 1,826,807 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 5,449,277 shares. The stock had previously closed at $6.60.

Analyst Ratings Changes

A number of research analysts have commented on STUB shares. Mizuho set a $11.00 price objective on STUB in a research note on Friday, August 14th. Oppenheimer lowered their target price on STUB from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Weiss Ratings upgraded STUB from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 7th. Bank of America reissued an “underperform” rating and set a $7.50 price target (down from $11.00) on shares of STUB in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upped their price target on STUB from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.83.

STUB Trading Down 1.6%

The business’s 50-day simple moving average is $8.58 and its two-hundred day simple moving average is $8.63. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $2.30 billion and a PE ratio of -1.05.

Insiders Place Their Bets

In related news, insider Scott Michael Fitzgerald sold 84,970 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $7.08, for a total value of $601,587.60. Following the completion of the transaction, the insider owned 110,383 shares of the company’s stock, valued at approximately $781,511.64. This represents a 43.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Streams sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $6.76, for a total value of $1,014,000.00. Following the sale, the insider owned 1,404,222 shares of the company’s stock, valued at approximately $9,492,540.72. This trade represents a 9.65% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,155,632 shares of company stock worth $8,880,807. 30.97% of the stock is owned by insiders.

Hedge Funds Weigh In On STUB

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in STUB by 194.4% in the first 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. Ardmore Road Asset Management LP lifted its position in shares of STUB by 25.0% during the fourth quarter. Ardmore Road Asset Management LP now owns 25,000 shares of the company’s stock worth $338,000 after purchasing an additional 5,000 shares during the last quarter. Pittenger & Anderson Inc. acquired a new position in STUB in the first quarter worth about $34,000. Cornerstone Wealth Management LLC grew its stake in STUB by 20.0% in the fourth quarter. Cornerstone Wealth Management LLC now owns 36,440 shares of the company’s stock worth $493,000 after purchasing an additional 6,070 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in STUB in the fourth quarter worth 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.