STUB (NYSE:STUB) Shares Down 5.4% After Insider Selling

STUB (NYSE:STUB) shares traded down 5.4% on Thursday after an insider sold shares in the company. The stock traded as low as $12.04 and last traded at $12.0150. Approximately 1,820,517 shares changed hands during trading, a decline of 64% from the average daily volume of 5,121,646 shares. The stock had previously closed at $12.70.

Specifically, insider Nayaab Islam sold 2,800 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $14.01, for a total value of $39,228.00. Following the sale, the insider owned 8,451,964 shares of the company’s stock, valued at approximately $118,412,015.64. This represents a 0.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 dated Monday, July 6th. The shares were sold at an average price of $13.03, for a total transaction of $714,057.03. Following the transaction, the insider directly owned 8,454,764 shares of the company’s stock, valued at $110,165,574.92. This represents a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other STUB news, insider Nayaab Islam sold 2,099 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $13.00, for a total transaction of $27,287.00. Following the sale, the insider directly owned 8,509,565 shares of the company’s stock, valued at approximately $110,624,345. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HSBC raised STUB to a “buy” rating in a report on Tuesday, May 19th. Morgan Stanley increased their target price on STUB from $8.75 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 10th. Craig Hallum lowered STUB from a “hold” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings upgraded shares of STUB from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of 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, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, STUB presently has an average rating of “Hold” and an average price target of $11.50.

STUB Price Performance

The company’s 50 day simple moving average is $10.37. The stock has a market capitalization of $4.18 billion and a price-to-earnings ratio of -18.54. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.10 and a current ratio of 1.10.

STUB (NYSE:STUB) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.07. The firm had revenue of $446.05 million during the quarter. STUB’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, sell-side analysts expect that STUB will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On STUB

Several institutional investors have recently modified their holdings of STUB. Royal Bank of Canada lifted 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 buying an additional 4,214 shares during the period. Ardmore Road Asset Management LP raised its position in shares of STUB by 25.0% during the 4th quarter. Ardmore Road Asset Management LP now owns 25,000 shares of the company’s stock valued at $338,000 after acquiring an additional 5,000 shares during the last quarter. Pittenger & Anderson Inc. bought a new stake in shares of STUB during the 1st quarter valued at $34,000. Cornerstone Wealth Management LLC lifted its stake in shares of STUB by 20.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 36,440 shares of the company’s stock valued at $493,000 after purchasing an additional 6,070 shares during the period. Finally, Garner Asset Management Corp acquired a new position in shares of STUB in the 4th quarter valued at $92,000.

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.