Alps Advisors Inc. lowered its stake in shares of The Rubicon Project Inc. (NYSE:RUBI) by 6.9% during the second quarter, Holdings Channel reports. The fund owned 24,461 shares of the company’s stock after selling 1,800 shares during the period. Alps Advisors Inc.’s holdings in The Rubicon Project were worth $334,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in The Rubicon Project during the second quarter valued at $321,000. Nordea Investment Management AB acquired a new stake in The Rubicon Project during the second quarter valued at $587,000. Old Mutual Global Investors UK Ltd. acquired a new stake in The Rubicon Project during the second quarter valued at $538,000. American Century Companies Inc. acquired a new stake in The Rubicon Project during the second quarter valued at $1,470,000. Finally, Pacad Investment Ltd. acquired a new stake in The Rubicon Project during the first quarter valued at $296,000. Hedge funds and other institutional investors own 65.09% of the company’s stock.
The Rubicon Project Inc. (NYSE:RUBI) traded down 1.94% during mid-day trading on Thursday, reaching $8.09. The company’s stock had a trading volume of 506,631 shares. The stock’s 50 day moving average is $8.54 and its 200 day moving average is $13.24. The Rubicon Project Inc. has a 12 month low of $8.01 and a 12 month high of $20.37. The company has a market cap of $395.76 million, a price-to-earnings ratio of 23.18 and a beta of 1.54.
The Rubicon Project (NYSE:RUBI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The Rubicon Project had a return on equity of 13.18% and a net margin of 6.15%. The firm earned $65.10 million during the quarter, compared to analyst estimates of $63.76 million. During the same period in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. Equities research analysts predict that The Rubicon Project Inc. will post $0.88 EPS for the current year.
RUBI has been the subject of several analyst reports. Citigroup Inc. boosted their price target on shares of The Rubicon Project from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, September 13th. Jefferies Group reissued a “buy” rating and set a $14.00 price target on shares of The Rubicon Project in a report on Monday, August 22nd. TheStreet downgraded shares of The Rubicon Project from a “hold” rating to a “sell” rating in a report on Friday, August 19th. Vetr raised shares of The Rubicon Project from a “buy” rating to a “strong-buy” rating and set a $9.25 price target for the company in a report on Monday. Finally, Albert Fried & Company initiated coverage on shares of The Rubicon Project in a report on Friday, September 30th. They set a “market perform” rating and a $10.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.65.
About The Rubicon Project
The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for both 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, real-time bidding (RTB) and static bidding, across digital channels, including mobile Web, mobile application and desktop, as well as across various out of home channels, such as digital billboards.