Northern Trust Corp increased its stake in shares of The Rubicon Project Inc (NYSE:RUBI) by 34.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,643 shares of the software maker’s stock after purchasing an additional 40,511 shares during the quarter. Northern Trust Corp’s holdings in The Rubicon Project were worth $997,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in RUBI. Renaissance Technologies LLC grew its holdings in The Rubicon Project by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,457,889 shares of the software maker’s stock worth $9,272,000 after acquiring an additional 67,800 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in The Rubicon Project by 51.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,559 shares of the software maker’s stock worth $1,645,000 after acquiring an additional 88,170 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in The Rubicon Project by 63.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 265,260 shares of the software maker’s stock worth $1,688,000 after acquiring an additional 103,246 shares during the last quarter. Bank of Montreal Can bought a new stake in The Rubicon Project during the 2nd quarter worth approximately $25,000. Finally, Russell Investments Group Ltd. grew its holdings in The Rubicon Project by 959.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 548,946 shares of the software maker’s stock worth $3,488,000 after acquiring an additional 497,146 shares during the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.
RUBI opened at $8.80 on Friday. The Rubicon Project Inc has a fifty-two week low of $3.00 and a fifty-two week high of $10.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $466.32 million, a price-to-earnings ratio of -10.35 and a beta of 1.72. The company’s 50 day moving average price is $9.13 and its two-hundred day moving average price is $7.55.
The Rubicon Project (NYSE:RUBI) last posted its earnings results on Wednesday, July 31st. The software maker reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.06. The Rubicon Project had a negative net margin of 26.05% and a negative return on equity of 19.85%. The firm had revenue of $37.87 million for the quarter, compared to analyst estimates of $35.65 million. As a group, equities research analysts predict that The Rubicon Project Inc will post -0.54 EPS for the current year.
In other news, General Counsel Jonathan Feldman sold 33,485 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.00, for a total value of $334,850.00. Following the sale, the general counsel now directly owns 106,369 shares of the company’s stock, valued at approximately $1,063,690. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank Addante sold 12,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $8.56, for a total transaction of $107,000.00. Following the completion of the sale, the director now directly owns 1,222,319 shares in the company, valued at $10,463,050.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,985 shares of company stock worth $674,475. Insiders own 10.60% of the company’s stock.
A number of equities research analysts have weighed in on RUBI shares. B. Riley set a $11.00 target price on shares of The Rubicon Project and gave the stock a “buy” rating in a report on Monday, September 23rd. ValuEngine raised shares of The Rubicon Project from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of The Rubicon Project from a “buy” rating to a “hold” rating in a report on Wednesday.
The Rubicon Project 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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