Renaissance Technologies LLC reduced its holdings in The Rubicon Project Inc (NYSE:RUBI) by 27.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,185,473 shares of the software maker’s stock after selling 445,427 shares during the quarter. Renaissance Technologies LLC owned about 2.34% of The Rubicon Project worth $3,379,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RUBI. Ariel Investments LLC bought a new stake in shares of The Rubicon Project during the second quarter valued at approximately $1,767,000. Royce & Associates LP increased its holdings in shares of The Rubicon Project by 80.2% during the second quarter. Royce & Associates LP now owns 1,369,417 shares of the software maker’s stock valued at $3,903,000 after acquiring an additional 609,600 shares in the last quarter. Boston Partners bought a new stake in shares of The Rubicon Project during the second quarter valued at approximately $1,600,000. Perkins Capital Management Inc. bought a new stake in shares of The Rubicon Project during the second quarter valued at approximately $1,486,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of The Rubicon Project by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,396,558 shares of the software maker’s stock valued at $6,830,000 after acquiring an additional 227,872 shares in the last quarter. Hedge funds and other institutional investors own 57.21% of the company’s stock.
NYSE RUBI opened at $3.51 on Friday. The company has a market cap of $184.23 million, a PE ratio of -3.16 and a beta of 1.35. The Rubicon Project Inc has a 52 week low of $1.48 and a 52 week high of $4.20.
The Rubicon Project (NYSE:RUBI) last released its quarterly earnings data on Wednesday, August 1st. The software maker reported ($0.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.06. The firm had revenue of $28.65 million during the quarter, compared to the consensus estimate of $27.86 million. The Rubicon Project had a negative return on equity of 42.04% and a negative net margin of 144.16%. On average, sell-side analysts expect that The Rubicon Project Inc will post -1.21 EPS for the current year.
In related news, insider Michael G. Barrett bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $3.42 per share, with a total value of $342,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.70% of the stock is owned by insiders.
Several equities research analysts have recently commented on RUBI shares. SunTrust Banks restated a “buy” rating and set a $4.00 price objective on shares of The Rubicon Project in a report on Thursday, August 2nd. Craig Hallum restated a “buy” rating on shares of The Rubicon Project in a report on Friday, October 12th. Finally, Zacks Investment Research upgraded The Rubicon Project from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.33.
About The Rubicon Project
The Rubicon Project, Inc 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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