Weiss Asset Management LP Takes $2.40 Million Position in STUB $STUB

Weiss Asset Management LP purchased a new position in STUB (NYSE:STUB) during the first quarter, HoldingsChannel reports. The firm purchased 384,062 shares of the company’s stock, valued at approximately $2,397,000.

Other institutional investors also recently added to or reduced their stakes in the company. Ardmore Road Asset Management LP lifted its holdings in 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 buying an additional 5,000 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in STUB in the 1st quarter valued at about $34,000. Cornerstone Wealth Management LLC grew its stake in STUB by 20.0% in the 4th quarter. Cornerstone Wealth Management LLC now owns 36,440 shares of the company’s stock worth $493,000 after acquiring an additional 6,070 shares in the last quarter. Garner Asset Management Corp bought a new position in STUB in the 4th quarter worth about $92,000. Finally, The Manufacturers Life Insurance Company bought a new position in STUB in the 4th quarter worth about $143,000.

Analyst Ratings Changes

Several research firms have recently weighed in on STUB. Craig Hallum downgraded shares of STUB from a “hold” rating to a “hold” rating in a research note on Tuesday, May 19th. Guggenheim reiterated a “buy” rating on shares of STUB in a report on Friday, June 12th. Citigroup restated a “neutral” rating on shares of STUB in a report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their target price on STUB from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Sanford C. Bernstein raised STUB to an “outperform” rating in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, STUB has an average rating of “Hold” and a consensus target price of $11.50.

STUB Price Performance

Shares of STUB stock opened at $8.26 on Monday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.96. The company has a market cap of $3.10 billion and a PE ratio of -13.76. The business’s 50-day simple moving average is $10.68. STUB has a 1 year low of $5.74 and a 1 year high of $27.89.

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

Insider Buying and Selling

In related news, insider Mark Streams sold 232,567 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $9.04, for a total value of $2,102,405.68. Following the completion of the transaction, the insider owned 1,114,001 shares of the company’s stock, valued at $10,070,569.04. The trade was a 17.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nayaab Islam sold 54,801 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.03, for a total value of $714,057.03. Following the sale, the insider owned 8,454,764 shares of the company’s stock, valued at approximately $110,165,574.92. This represents a 0.64% 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 quarter, insiders have sold 413,647 shares of company stock worth $4,401,046. Insiders own 30.97% of the company’s stock.

STUB 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.