The Rubicon Project, Inc. (RUBI) is Roumell Asset Management LLC’s 6th Largest Position
Roumell Asset Management LLC raised its stake in The Rubicon Project, Inc. (NYSE:RUBI) by 29.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,565 shares of the software maker’s stock after purchasing an additional 153,305 shares during the period. The Rubicon Project makes up approximately 6.1% of Roumell Asset Management LLC’s holdings, making the stock its 6th biggest position. Roumell Asset Management LLC owned 1.35% of The Rubicon Project worth $2,608,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of RUBI. Divisar Capital Management LLC lifted its holdings in shares of The Rubicon Project by 38.5% during the 2nd quarter. Divisar Capital Management LLC now owns 2,476,289 shares of the software maker’s stock worth $12,728,000 after acquiring an additional 688,801 shares during the period. Dimensional Fund Advisors LP lifted its holdings in The Rubicon Project by 9.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,045,001 shares of the software maker’s stock valued at $7,955,000 after purchasing an additional 178,210 shares during the last quarter. Vanguard Group Inc. lifted its holdings in The Rubicon Project by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,712,725 shares of the software maker’s stock valued at $8,802,000 after purchasing an additional 93,265 shares during the last quarter. Citadel Advisors LLC lifted its holdings in The Rubicon Project by 30.6% during the 3rd quarter. Citadel Advisors LLC now owns 935,350 shares of the software maker’s stock valued at $3,639,000 after purchasing an additional 218,914 shares during the last quarter. Finally, State Street Corp lifted its holdings in The Rubicon Project by 10.2% during the 2nd quarter. State Street Corp now owns 910,293 shares of the software maker’s stock valued at $4,681,000 after purchasing an additional 84,345 shares during the last quarter. 62.89% of the stock is owned by hedge funds and other institutional investors.
Shares of The Rubicon Project, Inc. (NYSE RUBI) traded up $0.01 during trading hours on Tuesday, hitting $1.76. 511,700 shares of the stock traded hands, compared to its average volume of 692,076. The Rubicon Project, Inc. has a 12 month low of $1.73 and a 12 month high of $9.16.
The Rubicon Project (NYSE:RUBI) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The Rubicon Project had a negative return on equity of 9.23% and a negative net margin of 77.31%. The business had revenue of $35.20 million for the quarter, compared to analyst estimates of $39.38 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The firm’s quarterly revenue was down 41.9% compared to the same quarter last year. research analysts expect that The Rubicon Project, Inc. will post -2.58 earnings per share for the current year.
RUBI has been the subject of several analyst reports. ValuEngine downgraded shares of The Rubicon Project from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. B. Riley reissued a “hold” rating and set a $5.00 price target on shares of The Rubicon Project in a report on Monday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of The Rubicon Project in a report on Friday, November 3rd. Finally, Citigroup lowered 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. Two investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.61.
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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