STUB (NYSE:STUB) Shares Up 7.1% – Here’s Why

STUB (NYSE:STUB)’s share price shot up 7.1% on Monday . The company traded as high as $9.15 and last traded at $8.94. 3,033,109 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 3,861,122 shares. The stock had previously closed at $8.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STUB shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price objective (down from $22.00) on shares of STUB in a research report on Thursday. Wall Street Zen raised STUB from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings assumed coverage on STUB in a report on Wednesday, January 14th. They issued a “sell (d-)” rating on the stock. Citigroup upgraded shares of STUB from a “sell” rating to a “neutral” rating in a research report on Wednesday, February 18th. Finally, Craig Hallum initiated coverage on STUB in a research note on Thursday, January 29th. They issued a “hold” rating and a $12.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.40.

STUB Price Performance

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 company has a market cap of $3.23 billion and a P/E ratio of -14.65.

STUB (NYSE:STUB) last posted its quarterly earnings results 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 firm had revenue of $449.17 million during the quarter. The business’s quarterly revenue was down 15.8% on a year-over-year basis.

Institutional Trading of STUB

Several large investors have recently modified their holdings of STUB. Garner Asset Management Corp purchased a new position in STUB during the 4th quarter valued at $92,000. The Manufacturers Life Insurance Company bought a new stake in shares of STUB in the 4th quarter worth approximately $143,000. International Assets Investment Management LLC bought a new position in shares of STUB during the fourth quarter valued at $149,000. Cerity Partners LLC bought a new stake in STUB during the 4th quarter valued at about $150,000. Finally, Engineers Gate Manager LP purchased a new position in STUB in the 4th quarter worth approximately $161,000.

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.