Short Interest in The Rubicon Project, Inc. (NYSE:RUBI) Declines By 33.2%

The Rubicon Project, Inc. (NYSE:RUBI) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 562,523 shares, a drop of 33.2% from the November 30th total of 841,689 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 772,440 shares, the days-to-cover ratio is presently 0.7 days.

Shares of The Rubicon Project (RUBI) opened at $2.19 on Wednesday. The company has a market capitalization of $118.50, a P/E ratio of -0.70 and a beta of 1.25. The Rubicon Project has a 12 month low of $1.68 and a 12 month high of $9.05.

The Rubicon Project (NYSE:RUBI) last posted its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). The company had revenue of $35.20 million for the quarter, compared to analyst estimates of $39.38 million. The Rubicon Project had a negative return on equity of 9.23% and a negative net margin of 77.31%. The firm’s revenue for the quarter was down 41.9% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS.

Several research analysts have issued reports on the company. Citigroup dropped their price objective on The Rubicon Project from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, September 26th. B. Riley reiterated a “hold” rating and set a $3.00 price objective on shares of The Rubicon Project in a research note on Friday, November 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of The Rubicon Project in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.61.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUBI. Voya Investment Management LLC lifted its position in shares of The Rubicon Project by 29.6% during the 2nd quarter. Voya Investment Management LLC now owns 20,823 shares of the software maker’s stock valued at $107,000 after acquiring an additional 4,760 shares during the period. SG Americas Securities LLC bought a new stake in shares of The Rubicon Project during the 2nd quarter valued at $143,000. Cubist Systematic Strategies LLC lifted its position in shares of The Rubicon Project by 308.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 39,706 shares of the software maker’s stock valued at $154,000 after acquiring an additional 29,985 shares during the period. Wells Fargo & Company MN lifted its position in shares of The Rubicon Project by 7.3% during the 2nd quarter. Wells Fargo & Company MN now owns 30,922 shares of the software maker’s stock worth $158,000 after buying an additional 2,103 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of The Rubicon Project by 24.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,266 shares of the software maker’s stock worth $166,000 after buying an additional 6,342 shares during the last quarter. Institutional investors and hedge funds own 62.62% of the company’s stock.

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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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