Sequoia Financial Advisors LLC Invests $7.95 Million in STUB $STUB

Key Points

• Sequoia Financial Advisors acquired 617,968 shares of StubHub Holdings, valued at approximately $7.95 million, giving it a 0.16% stake.
• STUB insiders sold more than 1.15 million shares worth $8.88 million over the past 90 days, while insiders continue to own 30.97% of the company.
• Shares opened at $6.01, near the 52-week low of $5.74. Analysts have a consensus “Hold” rating and an average price target of $10.83.

Sequoia Financial Advisors LLC purchased a new stake in STUB (NYSE:STUB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 617,968 shares of the company's stock, valued at approximately $7,953,000. Sequoia Financial Advisors LLC owned about 0.16% of STUB at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pittenger & Anderson Inc. acquired a new stake in STUB during the 1st quarter valued at $34,000. Royal Bank of Canada grew its position in STUB by 194.4% during the first quarter. Royal Bank of Canada now owns 6,382 shares of the company's stock worth $39,000 after buying an additional 4,214 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of STUB during the 1st quarter worth $69,000. The Manufacturers Life Insurance Company acquired a new stake in STUB during the fourth quarter worth about $143,000. Finally, International Assets Investment Management LLC bought a new position in STUB in the fourth quarter valued at approximately $149,000.

Insider Transactions at STUB

In related news, insider Nayaab Islam sold 24,554 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $6.69, for a total value of $164,266.26. Following the transaction, the insider directly owned 8,011,292 shares of the company's stock, valued at approximately $53,595,543.48. The trade was a 0.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Streams sold 135,589 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $6.39, for a total transaction of $866,413.71. Following the completion of the transaction, the insider owned 1,225,976 shares in the company, valued at approximately $7,833,986.64. The trade was a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,155,632 shares of company stock worth $8,880,807 in the last ninety days. Company insiders own 30.97% of the company's stock.

STUB Price Performance

STUB stock opened at $6.01 on Friday. The company's 50 day moving average price is $8.30 and its two-hundred day moving average price is $8.59. The stock has a market cap of $2.30 billion and a P/E ratio of -1.05. STUB has a 52 week low of $5.74 and a 52 week high of $27.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.86.

Analyst Ratings Changes

A number of research analysts have issued reports on STUB shares. Evercore set a $14.00 target price on STUB in a research report on Thursday, August 13th. Morgan Stanley increased their price objective on STUB from $8.75 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, June 10th. BMO Capital Markets lowered shares of STUB from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 19th. TD Cowen lowered their price objective on STUB from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, August 21st. Finally, Wall Street Zen lowered shares of STUB from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, STUB presently has an average rating of "Hold" and a consensus price target of $10.83.

STUB Profile

StubHub Holdings, Inc operates a global online marketplace for buying and selling tickets to live events. Its platform connects fans with tickets for sporting events, concerts, theater productions and other entertainment experiences, while providing tools for ticket discovery, purchasing, listing and resale.

The company serves customers through its website and mobile applications under the StubHub brand, offering inventory from professional sellers, event partners and individual ticket holders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.