STUB (NYSE:STUB) Hits New 52-Week Low – Here’s Why

STUB (NYSE:STUB)’s share price hit a new 52-week low on Wednesday . The company traded as low as $7.85 and last traded at $7.9350, with a volume of 9980882 shares changing hands. The stock had previously closed at $8.23.

Wall Street Analysts Forecast Growth

STUB has been the topic of several research reports. Wedbush restated a “neutral” rating and set a $10.00 price objective (down from $18.00) on shares of STUB in a report on Thursday, March 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 target price (down from $22.00) on shares of STUB in a research note on Thursday, March 5th. Oppenheimer decreased their target price on STUB from $20.00 to $12.00 and set an “outperform” rating on the stock 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 on the stock. Finally, Guggenheim reaffirmed a “buy” rating on shares of STUB in a report on Tuesday, February 24th. 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 company. According to MarketBeat, STUB presently has an average rating of “Hold” and an average target price of $11.40.

STUB Trading Up 3.8%

The firm has a market cap of $2.89 billion and a PE ratio of -11.92. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.03 and a current ratio of 1.04.

STUB (NYSE:STUB) last issued 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 business had revenue of $449.17 million for the quarter. The business’s quarterly revenue was down 15.8% compared to the same quarter last year.

Insider Buying and Selling

In related news, insider Scott Michael Fitzgerald sold 28,387 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was 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 $597,181.26. This represents a 26.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On STUB

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

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.