STUB (NYSE:STUB) Reaches New 52-Week Low - Here's What Happened

Key Points

• STUB hit a new 52-week low, trading as low as $5.85 and last at $5.8850 on volume of about 1.53 million shares, down from a prior close of $6.36.
• In its most recent quarter STUB reported a severe EPS miss of ($1.56) versus ($0.01) expected and revenue of $449.17 million, a 15.8% year-over-year decline.
• Analysts are largely cautious—consensus rating is Hold (1 Buy, 5 Hold, 1 Sell) with a $10.75 average price target after multiple firms cut targets, including JPMorgan, Guggenheim, and Oppenheimer.

STUB (NYSE:STUB - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.85 and last traded at $5.8850, with a volume of 1528507 shares trading hands. The stock had previously closed at $6.36.

Analyst Ratings Changes

STUB has been the topic of a number of recent research reports. Craig Hallum assumed coverage on shares of STUB in a report on Thursday, January 29th. They issued a "hold" rating and a $12.00 price objective on the stock. Guggenheim lowered their target price on shares of STUB from $9.00 to $7.50 and set a "neutral" rating for the company in a report on Wednesday, March 25th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.00 price target (down from $22.00) on shares of STUB in a research report on Thursday, March 5th. Oppenheimer cut their price target on STUB from $20.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, March 5th. Finally, Wall Street Zen raised STUB from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, STUB currently has an average rating of "Hold" and a consensus price target of $10.75.

STUB Stock Performance

The firm has a 50-day moving average price of $8.60. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $2.23 billion and a PE ratio of -9.45.

STUB (NYSE:STUB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($1.55). The firm had revenue of $449.17 million during the quarter. STUB's revenue was down 15.8% compared to the same quarter last year.

Insider Activity

In other news, insider Scott Michael Fitzgerald sold 28,387 shares of STUB stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $7.66, for a total value of $217,444.42. Following the completion of the transaction, the insider owned 77,961 shares of the company's stock, valued at $597,181.26. The trade was a 26.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On STUB

Several large investors have recently modified their holdings of STUB. WestCap Management LLC purchased a new position in shares of STUB in the 4th quarter worth about $429,370,000. Capital Research Global Investors purchased a new position in shares of STUB in the 4th quarter worth about $106,887,000. Index Venture Associates III Ltd purchased a new position in shares of STUB in the 4th quarter worth about $85,192,000. PointState Capital LP raised its position in STUB by 19.9% in the 4th 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 during the last quarter. Finally, Capital International Investors purchased a new position in STUB in 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.

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