Bank of New York Mellon Corp decreased its position in The Rubicon Project Inc. (NYSE:RUBI) by 25.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,807 shares of the company’s stock after selling 44,793 shares during the period. Bank of New York Mellon Corp owned about 0.27% of The Rubicon Project worth $1,772,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quotient Investors LLC purchased a new position in The Rubicon Project during the second quarter worth approximately $186,000. Gradient Investments LLC bought a new stake in The Rubicon Project during the second quarter valued at about $280,000. Pacad Investment Ltd. bought a new stake in The Rubicon Project during the first quarter valued at about $296,000. Algert Global LLC bought a new stake in The Rubicon Project during the first quarter valued at about $320,000. Finally, Fox Run Management L.L.C. bought a new stake in The Rubicon Project during the second quarter valued at about $321,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.
The Rubicon Project Inc. (NYSE:RUBI) traded down 0.72% during midday trading on Friday, reaching $8.24. 281,961 shares of the company traded hands. The Rubicon Project Inc. has a 12-month low of $8.04 and a 12-month high of $20.37. The company has a 50-day moving average price of $8.60 and a 200-day moving average price of $13.40. The company has a market cap of $403.10 million, a price-to-earnings ratio of 23.61 and a beta of 1.54.
The Rubicon Project (NYSE:RUBI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The Rubicon Project had a return on equity of 13.18% and a net margin of 6.15%. The firm earned $65.10 million during the quarter, compared to analyst estimates of $63.76 million. During the same period in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. On average, analysts predict that The Rubicon Project Inc. will post $0.88 earnings per share for the current fiscal year.
RUBI has been the topic of several recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating on shares of The Rubicon Project in a report on Wednesday, June 29th. Zacks Investment Research raised shares of The Rubicon Project from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, June 29th. Needham & Company LLC reaffirmed a “buy” rating on shares of The Rubicon Project in a report on Monday, June 27th. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of The Rubicon Project in a report on Wednesday, June 22nd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of The Rubicon Project in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.65.
About The Rubicon Project
The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for both buyers and sellers. The Company’s solution enables buyers and sellers to purchase and sell a range of advertising units, including display and video, utilizing various inventory types, including direct sale of inventory, real-time bidding (RTB) and static bidding, across digital channels, including mobile Web, mobile application and desktop, as well as across various out of home channels, such as digital billboards.
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