STUB (NYSE:STUB) Given New $7.50 Price Target at Guggenheim

STUB (NYSE:STUB) had its target price dropped by Guggenheim from $9.00 to $7.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price target suggests a potential upside of 13.71% from the stock’s current price.

STUB has been the subject of several other research reports. Citigroup upgraded shares of STUB from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 18th. Wedbush restated a “neutral” rating and issued a $10.00 price target (down from $18.00) on shares of STUB in a research report on Thursday, March 5th. Weiss Ratings began coverage on STUB in a research note on Wednesday, January 14th. They set a “sell (d-)” rating for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price objective (down from $22.00) on shares of STUB in a report on Thursday, March 5th. Finally, Oppenheimer cut their target price on STUB from $20.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.75.

STUB Price Performance

Shares of NYSE:STUB opened at $6.60 on Wednesday. STUB has a one year low of $6.56 and a one year high of $27.89. The business’s 50 day simple moving average is $10.28. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.03 and a current ratio of 1.04. The firm has a market cap of $2.35 billion and a PE ratio of -9.99.

STUB (NYSE:STUB) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($1.56) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($1.55). The company had revenue of $449.17 million for the quarter. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis.

Insider Transactions at STUB

In other STUB news, insider Scott Michael Fitzgerald sold 28,387 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $7.66, for a total transaction of $217,444.42. Following the sale, the insider directly owned 77,961 shares in the company, valued at approximately $597,181.26. This trade represents a 26.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STUB. WestCap Management LLC acquired a new stake in shares of STUB during the fourth quarter worth $429,370,000. PointState Capital LP boosted its stake in STUB by 19.9% in the 4th quarter. PointState Capital LP now owns 24,823,335 shares of the company’s stock worth $335,860,000 after purchasing an additional 4,117,332 shares during the period. Capital Research Global Investors bought a new position in STUB during the 4th quarter worth about $106,887,000. Index Venture Associates III Ltd bought a new position in STUB during the 4th quarter worth about $85,192,000. Finally, Capital International Investors acquired a new stake in shares of STUB in the 4th quarter valued at about $55,235,000.

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.