State Street Corp lifted its holdings in The Rubicon Project, Inc. (NYSE:RUBI) by 10.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 910,293 shares of the software maker’s stock after acquiring an additional 84,345 shares during the period. State Street Corp owned approximately 1.86% of The Rubicon Project worth $4,681,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in RUBI. Dimensional Fund Advisors LP grew its stake in shares of The Rubicon Project by 83.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,866,791 shares of the software maker’s stock valued at $9,596,000 after acquiring an additional 846,857 shares in the last quarter. Divisar Capital Management LLC lifted its position in The Rubicon Project by 38.5% during the second quarter. Divisar Capital Management LLC now owns 2,476,289 shares of the software maker’s stock worth $12,728,000 after purchasing an additional 688,801 shares during the period. Marshall Wace North America L.P. bought a new stake in The Rubicon Project during the second quarter worth about $863,000. Vanguard Group Inc. lifted its position in The Rubicon Project by 10.0% during the first quarter. Vanguard Group Inc. now owns 1,619,460 shares of the software maker’s stock worth $9,538,000 after purchasing an additional 146,748 shares during the period. Finally, Northern Trust Corp lifted its position in The Rubicon Project by 13.6% during the second quarter. Northern Trust Corp now owns 501,401 shares of the software maker’s stock worth $2,577,000 after purchasing an additional 59,957 shares during the period. Institutional investors and hedge funds own 62.89% of the company’s stock.
Several research firms recently weighed in on RUBI. B. Riley reaffirmed a “neutral” rating and set a $5.00 price objective on shares of The Rubicon Project in a research report on Tuesday, September 12th. Citigroup cut their price objective on shares of The Rubicon Project from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of The Rubicon Project in a research report on Thursday, August 24th. Finally, ValuEngine cut shares of The Rubicon Project from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The Rubicon Project presently has an average rating of “Hold” and an average target price of $5.61.
The Rubicon Project (NYSE:RUBI) last posted its earnings results on Thursday, November 2nd. The software maker reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The company had revenue of $35.20 million during the quarter, compared to the consensus estimate of $39.38 million. The Rubicon Project had a negative return on equity of 9.23% and a negative net margin of 77.31%. The firm’s revenue was down 41.9% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. analysts expect that The Rubicon Project, Inc. will post -2.58 EPS for the current fiscal year.
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The Rubicon Project Company Profile
The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for 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 and real-time bidding (RTB), and 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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