TD Cowen Has Lowered Expectations for STUB (NYSE:STUB) Stock Price

Key Points

• TD Cowen cut its STUB price target from $16 to $12 while maintaining a “buy” rating, implying 73.91% potential upside from the stock’s $6.90 price.
• Analyst sentiment is mixed: five analysts rate STUB a Buy, seven a Hold and two a Sell, producing a consensus “Hold” rating and average target price of $10.83.
• Insiders sold 381,081 shares worth approximately $3.7 million over the past three months, while several institutional investors—including Stephens Group and Bank of America—expanded their positions.

STUB (NYSE:STUB - Get Free Report) had its target price dropped by investment analysts at TD Cowen from $16.00 to $12.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's target price points to a potential upside of 73.91% from the stock's current price.

Several other equities analysts also recently weighed in on STUB. Oppenheimer decreased their price target on shares of STUB from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, August 13th. Morgan Stanley increased their price objective on shares of STUB from $8.75 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, June 10th. Weiss Ratings raised shares of STUB from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. boosted their target price on STUB from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Finally, Evercore set a $14.00 price target on STUB in a research report on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.83.

STUB Price Performance

STUB traded up $0.07 on Friday, hitting $6.90. 362,895 shares of the company's stock were exchanged, compared to its average volume of 5,412,905. STUB has a fifty-two week low of $5.74 and a fifty-two week high of $27.89. The stock has a market cap of $2.59 billion and a price-to-earnings ratio of -1.20. The firm has a 50-day moving average price of $10.09 and a 200-day moving average price of $8.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.86.

Insider Activity

In other STUB 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 value of $371,473.62. Following the transaction, the insider directly owned 1,561,122 shares in the company, valued at $20,325,808.44. The trade was a 1.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott Michael Fitzgerald sold 84,970 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $7.08, for a total transaction of $601,587.60. Following the completion of the sale, the insider directly owned 110,383 shares of the company's stock, valued at approximately $781,511.64. This trade represents a 43.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 381,081 shares of company stock valued at $3,711,524 over the last three months. 30.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STUB. Comprehensive Financial Management LLC increased its stake in STUB by 13.6% during the second quarter. Comprehensive Financial Management LLC now owns 390,543 shares of the company's stock worth $5,026,000 after acquiring an additional 46,808 shares during the last quarter. Stephens Group LLC grew its holdings in shares of STUB by 193.2% during the 2nd quarter. Stephens Group LLC now owns 1,022,413 shares of the company's stock worth $13,158,000 after purchasing an additional 673,715 shares during the period. Bank of America Corp DE grew its holdings in shares of STUB by 396.1% during the 1st quarter. Bank of America Corp DE now owns 572,790 shares of the company's stock worth $3,574,000 after purchasing an additional 457,321 shares during the period. Pine Ridge Advisers LLC acquired a new stake in shares of STUB during the 1st quarter worth about $4,117,000. Finally, Royal Bank of Canada increased its position in shares of STUB by 194.4% during the 1st quarter. Royal Bank of Canada now owns 6,382 shares of the company's stock worth $39,000 after purchasing an additional 4,214 shares during the last quarter.

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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