Bank of America Corp DE Lowers Stake in The Rubicon Project Inc (RUBI)

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Bank of America Corp DE cut its holdings in The Rubicon Project Inc (NYSE:RUBI) by 14.6% during the 4th quarter, Holdings Channel reports. The firm owned 76,662 shares of the software maker’s stock after selling 13,131 shares during the period. Bank of America Corp DE’s holdings in The Rubicon Project were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RUBI. BlackRock Inc. lifted its stake in shares of The Rubicon Project by 45.7% during the fourth quarter. BlackRock Inc. now owns 1,154,424 shares of the software maker’s stock valued at $4,306,000 after buying an additional 362,122 shares during the period. Intrinsic Edge Capital Management LLC lifted its stake in shares of The Rubicon Project by 140.5% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 481,050 shares of the software maker’s stock valued at $1,794,000 after buying an additional 281,050 shares during the period. Vanguard Group Inc lifted its stake in shares of The Rubicon Project by 14.2% during the third quarter. Vanguard Group Inc now owns 2,105,373 shares of the software maker’s stock valued at $7,580,000 after buying an additional 261,187 shares during the period. Vanguard Group Inc. lifted its stake in shares of The Rubicon Project by 14.2% during the third quarter. Vanguard Group Inc. now owns 2,105,373 shares of the software maker’s stock valued at $7,580,000 after buying an additional 261,187 shares during the period. Finally, Barclays PLC lifted its stake in shares of The Rubicon Project by 1,453.5% during the fourth quarter. Barclays PLC now owns 250,112 shares of the software maker’s stock valued at $933,000 after buying an additional 234,012 shares during the period. Institutional investors and hedge funds own 63.71% of the company’s stock.

Shares of RUBI opened at $5.79 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.07. The company has a market cap of $299.78 million, a P/E ratio of -6.81 and a beta of 1.59. The Rubicon Project Inc has a 1 year low of $2.19 and a 1 year high of $7.50.

The Rubicon Project (NYSE:RUBI) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.06. The company had revenue of $32.42 million for the quarter, compared to the consensus estimate of $31.20 million. The Rubicon Project had a negative net margin of 35.21% and a negative return on equity of 23.77%. On average, equities analysts predict that The Rubicon Project Inc will post -0.66 EPS for the current year.

Several equities analysts recently issued reports on RUBI shares. Zacks Investment Research downgraded shares of The Rubicon Project from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. B. Riley started coverage on shares of The Rubicon Project in a research note on Wednesday, April 17th. They set a “buy” rating and a $9.00 price objective on the stock. Finally, ValuEngine raised shares of The Rubicon Project from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The Rubicon Project has an average rating of “Buy” and a consensus price target of $7.00.

In other The Rubicon Project news, CFO David Day sold 25,256 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $6.22, for a total transaction of $157,092.32. Following the transaction, the chief financial officer now owns 305,841 shares of the company’s stock, valued at $1,902,331.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Blima Tuller sold 7,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $6.87, for a total transaction of $51,525.00. Following the transaction, the insider now directly owns 149,260 shares in the company, valued at approximately $1,025,416.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 371,843 shares of company stock worth $2,297,842. 10.60% of the stock is currently owned by insiders.

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The Rubicon Project Company Profile

The Rubicon Project, Inc, together with its subsidiaries, provides technology solutions to automate the purchase and sale of digital advertising inventory for buyers and sellers in the United States and internationally. It offers applications and services for digital advertising inventory sellers, including Websites, mobile applications, and other digital media properties, to sell their advertising inventory; applications and services for buyers, such as advertisers, agencies, agency trading desks, and demand side platforms, to buy advertising inventory; and a marketplace over which such transactions are executed.

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Institutional Ownership by Quarter for The Rubicon Project (NYSE:RUBI)

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