The Rubicon Project (RUBI) Hits New 1-Year High Following Strong Earnings

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The Rubicon Project Inc (NYSE:RUBI)’s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $4.25 and last traded at $3.98, with a volume of 23943 shares changing hands. The stock had previously closed at $3.48.

The software maker reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The Rubicon Project had a negative net margin of 144.16% and a negative return on equity of 42.04%. The firm had revenue of $29.73 million during the quarter, compared to analysts’ expectations of $28.93 million.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised The Rubicon Project from a “sell” rating to a “hold” rating in a research note on Saturday, August 25th. SunTrust Banks set a $5.00 price objective on The Rubicon Project and gave the company a “buy” rating in a research note on Thursday. Finally, Craig Hallum reaffirmed a “buy” rating on shares of The Rubicon Project in a research note on Friday, October 12th.

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of The Rubicon Project by 10.5% in 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 buying an additional 227,872 shares during the period. B. Riley Financial Inc. increased its position in The Rubicon Project by 1,952.4% during the 2nd quarter. B. Riley Financial Inc. now owns 2,052,398 shares of the software maker’s stock valued at $5,849,000 after purchasing an additional 1,952,398 shares during the period. Royce & Associates LP increased its position in The Rubicon Project by 80.2% during the 2nd quarter. Royce & Associates LP now owns 1,369,417 shares of the software maker’s stock valued at $3,903,000 after purchasing an additional 609,600 shares during the period. BlackRock Inc. increased its position in The Rubicon Project by 3.0% during the 3rd quarter. BlackRock Inc. now owns 792,302 shares of the software maker’s stock valued at $2,853,000 after purchasing an additional 23,298 shares during the period. Finally, Perkins Capital Management Inc. increased its position in The Rubicon Project by 30.5% during the 3rd quarter. Perkins Capital Management Inc. now owns 680,500 shares of the software maker’s stock valued at $2,450,000 after purchasing an additional 159,000 shares during the period. 58.35% of the stock is owned by institutional investors.

The stock has a market cap of $176.61 million, a price-to-earnings ratio of -3.93 and a beta of 1.24.

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The Rubicon Project Company Profile (NYSE:RUBI)

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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