STUB (NYSE:STUB) Shares Up 6.6% – Here’s Why

STUB (NYSE:STUB) shares shot up 6.6% during trading on Friday . The stock traded as high as $12.24 and last traded at $12.2750. 1,664,028 shares traded hands during trading, a decline of 65% from the average daily volume of 4,746,824 shares. The stock had previously closed at $11.52.

Wall Street Analyst Weigh In

STUB has been the subject of a number of research analyst reports. UBS Group initiated coverage on STUB in a research report on Tuesday, May 19th. They set a “neutral” rating for the company. Guggenheim reiterated a “buy” rating on shares of STUB in a research report on Friday, June 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of STUB in a research note on Thursday, June 4th. Wall Street Zen cut STUB from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Citigroup initiated coverage on STUB in a research note on Tuesday, May 19th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.50.

STUB Trading Up 7.1%

The company’s 50-day moving average price is $9.15. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $4.63 billion and a PE ratio of -20.52.

STUB (NYSE:STUB) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $446.05 million during the quarter. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts predict that STUB will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark Streams sold 232,567 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $9.04, for a total transaction of $2,102,405.68. Following the transaction, the insider owned 1,114,001 shares of the company’s stock, valued at approximately $10,070,569.04. The trade was a 17.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nayaab Islam sold 16,720 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.37, for a total value of $190,106.40. Following the sale, the insider owned 8,563,444 shares in the company, valued at $97,366,358.28. The trade was a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 253,386 shares of company stock worth $2,324,202. Company insiders own 30.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of STUB. Bank of America Corp DE increased its position in STUB by 396.1% during the first quarter. Bank of America Corp DE now owns 572,790 shares of the company’s stock valued at $3,574,000 after acquiring an additional 457,321 shares during the last quarter. Pine Ridge Advisers LLC bought a new stake in shares of STUB in the 1st quarter worth about $4,117,000. Royal Bank of Canada lifted its holdings in shares of STUB by 194.4% in the 1st 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. Rokos Capital Management LLP boosted its stake in shares of STUB by 40.4% during the 1st quarter. Rokos Capital Management LLP now owns 2,143,423 shares of the company’s stock worth $13,375,000 after purchasing an additional 616,892 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of STUB by 481.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 61,330 shares of the company’s stock worth $383,000 after purchasing an additional 50,784 shares during the period.

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.