STUB (NYSE:STUB) Shares Gap Up – Still a Buy?

STUB (NYSE:STUB) shares gapped up before the market opened on Friday . The stock had previously closed at $5.94, but opened at $6.40. STUB shares last traded at $6.2440, with a volume of 1,423,176 shares traded.

Analyst Ratings Changes

STUB has been the subject of several analyst reports. Bank of America reaffirmed an “underperform” rating and issued a $7.50 target price (down from $11.00) on shares of STUB in a research report on Thursday, August 13th. Oppenheimer reduced their price target on STUB from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Citigroup upgraded STUB from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $9.00 to $7.00 in a report on Friday. Weiss Ratings raised shares of STUB from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 7th. Finally, Guggenheim dropped their price objective on shares of STUB from $12.50 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.33.

STUB Trading Up 2.1%

The business has a 50 day simple moving average of $7.75 and a two-hundred day simple moving average of $8.48. 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 stock has a market cap of $2.32 billion and a price-to-earnings ratio of -1.07.

Insiders Place Their Bets

In related news, insider Mark Streams sold 150,000 shares of STUB stock in a transaction 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 completion of the sale, the insider owned 1,404,222 shares in the company, valued at approximately $9,492,540.72. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott Michael Fitzgerald sold 84,970 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $7.08, for a total transaction of $601,587.60. Following the completion of the sale, the insider directly owned 110,383 shares in the company, valued at $781,511.64. This represents a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,138,912 shares of company stock valued at $8,690,701. Corporate insiders own 30.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors acquired a new position in STUB during the 4th quarter worth $106,887,000. Index Venture Associates III Ltd bought a new position in shares of STUB during the fourth quarter worth about $85,192,000. Capital International Investors acquired a new position in STUB in the fourth quarter worth about $55,235,000. Norges Bank acquired a new position in STUB in the fourth quarter worth about $23,678,000. Finally, Rokos Capital Management LLP increased its holdings in STUB by 40.4% in the first quarter. Rokos Capital Management LLP now owns 2,143,423 shares of the company’s stock valued at $13,375,000 after buying an additional 616,892 shares during the last quarter.

STUB Company Profile

StubHub Holdings, Inc operates a global online marketplace for buying and selling tickets to live events. Its platform connects fans with tickets for sporting events, concerts, theater productions and other entertainment experiences, while providing tools for ticket discovery, purchasing, listing and resale.

The company serves customers through its website and mobile applications under the StubHub brand, offering inventory from professional sellers, event partners and individual ticket holders.