Ameriprise Financial Inc. Acquires Shares of 57,854 The Rubicon Project, Inc. (RUBI)
Ameriprise Financial Inc. acquired a new stake in The Rubicon Project, Inc. (NYSE:RUBI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 57,854 shares of the software maker’s stock, valued at approximately $297,000. Ameriprise Financial Inc. owned approximately 0.12% of The Rubicon Project at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in RUBI. American International Group Inc. raised its holdings in The Rubicon Project by 7.0% in the first quarter. American International Group Inc. now owns 22,916 shares of the software maker’s stock worth $135,000 after purchasing an additional 1,509 shares in the last quarter. Teton Advisors Inc. raised its holdings in The Rubicon Project by 94.2% in the second quarter. Teton Advisors Inc. now owns 23,500 shares of the software maker’s stock worth $121,000 after purchasing an additional 11,400 shares in the last quarter. SG Americas Securities LLC bought a new position in The Rubicon Project in the second quarter worth about $143,000. Wells Fargo & Company MN raised its holdings in The Rubicon Project by 7.3% in the second quarter. Wells Fargo & Company MN now owns 30,922 shares of the software maker’s stock worth $158,000 after purchasing an additional 2,103 shares in the last quarter. Finally, Airain ltd bought a new position in The Rubicon Project in the second quarter worth about $204,000. Hedge funds and other institutional investors own 62.26% of the company’s stock.
A number of equities analysts have commented on the stock. B. Riley reiterated a “neutral” rating and issued a $5.00 target price on shares of The Rubicon Project in a report on Wednesday, August 2nd. Citigroup Inc. reduced their target price on shares of The Rubicon Project from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, September 26th. Needham & Company LLC reiterated a “hold” rating on shares of The Rubicon Project in a report on Thursday, August 24th. BidaskClub downgraded shares of The Rubicon Project from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of The Rubicon Project from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. The Rubicon Project has a consensus rating of “Hold” and an average target price of $5.61.
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The Rubicon Project, Inc. (NYSE RUBI) opened at $1.89 on Thursday. The Rubicon Project, Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $9.16.
The Rubicon Project (NYSE:RUBI) last posted its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). The Rubicon Project had a negative net margin of 77.31% and a negative return on equity of 9.23%. The company had revenue of $35.20 million for the quarter, compared to analyst estimates of $39.38 million. During the same quarter last year, the company earned $0.20 EPS. The business’s revenue was down 41.9% compared to the same quarter last year. equities analysts forecast that The Rubicon Project, Inc. will post -2.58 earnings per share for the current year.
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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