Bank of America Corp DE Purchases 457,321 Shares of STUB $STUB

Key Points

• Bank of America increased its STUB stake by 396.1% in the first quarter, acquiring 457,321 additional shares for a total holding of 572,790 shares valued at approximately $3.57 million.
• STUB shares opened at $6.57, well below their 50-day and 200-day moving averages of $9.51 and $8.80, respectively. Analysts maintain a consensus “Hold” rating with an average price target of $10.83.
• Despite increased institutional ownership, insiders sold 855,996 shares worth approximately $6.94 million during the last quarter, including substantial sales by Mark Streams and other executives.

Bank of America Corp DE boosted its position in STUB (NYSE:STUB - Free Report) by 396.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 572,790 shares of the company's stock after buying an additional 457,321 shares during the quarter. Bank of America Corp DE owned approximately 0.16% of STUB worth $3,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. WestCap Management LLC purchased a new stake in shares of STUB during the 4th quarter valued at approximately $429,370,000. PointState Capital LP lifted its position in shares of STUB by 19.9% during the fourth 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 in the last quarter. Capital Research Global Investors bought a new position in shares of STUB in the fourth quarter worth $106,887,000. Index Venture Associates III Ltd purchased a new position in shares of STUB in the fourth quarter valued at $85,192,000. Finally, Capital International Investors bought a new stake in shares of STUB during the 4th quarter valued at $55,235,000.

STUB Trading Up 0.3%

NYSE STUB opened at $6.57 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.86. The stock's 50-day simple moving average is $9.51 and its two-hundred day simple moving average is $8.80. STUB has a twelve month low of $5.74 and a twelve month high of $27.89. The company has a market capitalization of $2.51 billion and a price-to-earnings ratio of -1.14.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on STUB from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Citigroup reiterated a "neutral" rating on shares of STUB in a research report on Wednesday, July 15th. Morgan Stanley increased their price target on shares of STUB from $8.75 to $10.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 10th. Guggenheim cut their price objective on shares of STUB from $12.50 to $11.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Finally, TD Cowen reduced their price objective on shares of STUB from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, August 21st. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, STUB has an average rating of "Hold" and an average price target of $10.83.

Trending Headlines about STUB

Here are the key news stories impacting STUB this week:

• Negative Sentiment: Executive Vice Chairman and Chief Legal Officer Mark Streams sold 2,530 shares for approximately $17,406 at an average price of $6.88. The sale reduced his ownership by 0.18%. Top StubHub Executive Quietly Cashes Out in Notable Stock Sale
• Negative Sentiment: Insider Nayaab Islam sold 85,973 shares for roughly $589,775 at $6.86 per share. Combined with a 219,736-share sale on August 25, Islam has sold 305,709 shares worth about $2.08 million in two recent transactions, reducing the position by approximately 3.6%. Insider Selling: STUB Insider Sells 85,973 Shares
• Neutral Sentiment: Despite the selling, Islam still owned 8.15 million shares and Streams retained approximately 1.39 million shares after their respective transactions. Insider sales can reflect diversification or personal liquidity needs rather than a definitive view of future business performance.
• Neutral Sentiment: Analyst opinions remain mixed: five analysts rate STUB a Buy, seven rate it Hold and two rate it Sell. The consensus rating is Hold, with an average price target of $10.83, while recent targets include $11 from Oppenheimer and Mizuho and $14 from Evercore. The stock is trading well below those targets but remains below its 50-day and 200-day moving averages, signaling continued technical weakness.

Insider Transactions at STUB

In other STUB news, insider Mark Streams sold 150,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $6.76, for a total transaction of $1,014,000.00. Following the transaction, the insider directly owned 1,404,222 shares in the company, valued at $9,492,540.72. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Michael Fitzgerald sold 84,970 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $7.08, for a total transaction of $601,587.60. Following the completion of the sale, the insider owned 110,383 shares of the company's stock, valued at approximately $781,511.64. The trade was a 43.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 855,996 shares of company stock valued at $6,937,165. 30.97% of the stock is currently owned by corporate insiders.

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.

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