Pine Ridge Advisers LLC Purchases New Position in STUB $STUB

Key Points

• Pine Ridge Advisers purchased 659,840 STUB shares worth approximately $4.1 million, representing a 0.18% stake. Other major investors, including WestCap Management and Capital Research Global Investors, also recently acquired positions.
• Insiders sold 413,647 shares valued at about $4.4 million over the past three months, though insiders still own nearly 31% of the company. The disclosed sales were conducted under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment remains mixed, with four Buy, seven Hold and one Sell rating, producing a consensus “Hold” rating and an $11.50 target price. STUB recently reported better-than-expected quarterly earnings of $0.06 per share and 12.2% year-over-year revenue growth.

Pine Ridge Advisers LLC purchased a new stake in STUB (NYSE:STUB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 659,840 shares of the company's stock, valued at approximately $4,117,000. Pine Ridge Advisers LLC owned 0.18% of STUB at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. WestCap Management LLC acquired a new stake in shares of STUB during the 4th quarter worth approximately $429,370,000. Capital Research Global Investors acquired a new position in shares of STUB in the 4th quarter valued at $106,887,000. Index Venture Associates III Ltd purchased a new stake in STUB during the fourth quarter worth $85,192,000. PointState Capital LP boosted its holdings in 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 buying an additional 4,117,332 shares in the last quarter. Finally, Capital International Investors acquired a new stake in STUB during the fourth quarter valued at $55,235,000.

Insider Transactions at STUB

In other news, insider Mark Streams sold 28,531 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.02, for a total transaction of $371,473.62. Following the completion of the sale, the insider owned 1,561,122 shares of the company's stock, valued at $20,325,808.44. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nayaab Islam sold 2,800 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $14.01, for a total transaction of $39,228.00. Following the transaction, the insider owned 8,451,964 shares of the company's stock, valued at approximately $118,412,015.64. This trade represents a 0.03% 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. Insiders have sold 413,647 shares of company stock valued at $4,401,046 in the last three months. Corporate insiders own 30.97% of the company's stock.

Analyst Ratings Changes

STUB has been the subject of a number of recent analyst reports. HSBC raised shares of STUB to a "buy" rating in a report on Tuesday, May 19th. UBS Group started coverage on STUB in a research report on Tuesday, May 19th. They set a "neutral" rating on the stock. Morgan Stanley lifted their price target on STUB from $8.75 to $10.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 10th. Sanford C. Bernstein raised STUB to an "outperform" rating in a report on Tuesday, May 19th. Finally, Craig Hallum cut STUB from a "hold" rating to a "hold" rating in a report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $11.50.

STUB Stock Performance

STUB stock opened at $8.55 on Wednesday. The firm has a market cap of $3.21 billion and a PE ratio of -14.26. The company has a fifty day moving average of $10.65. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.96. STUB has a 1 year low of $5.74 and a 1 year high of $27.89.

STUB (NYSE:STUB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.07. The company had revenue of $446.05 million for the quarter. The firm's revenue was up 12.2% compared to the same quarter last year. Sell-side analysts predict that STUB will post 0.56 EPS for the current year.

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.

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