The Rubicon Project (RUBI) Stock Price Down 5.3%

The Rubicon Project, Inc. (NYSE:RUBI) dropped 5.3% on Wednesday . The stock traded as low as $1.95 and last traded at $1.97. Approximately 596,461 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 1,161,931 shares. The stock had previously closed at $2.08.

RUBI has been the subject of several research reports. B. Riley reaffirmed a “hold” rating and issued a $3.00 price target on shares of The Rubicon Project in a research report on Friday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of The Rubicon Project in a research report on Friday, November 3rd. Finally, Citigroup lowered their price target on shares of The Rubicon Project from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The Rubicon Project currently has an average rating of “Hold” and a consensus price target of $5.61.

The stock has a market cap of $103.57, a PE ratio of -0.63 and a beta of 1.25.

The Rubicon Project (NYSE:RUBI) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.14) earnings per share 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 during the quarter, compared to analysts’ expectations of $39.38 million. During the same period in the previous year, the company posted $0.20 EPS. The Rubicon Project’s revenue for the quarter was down 41.9% on a year-over-year basis.

A number of large investors have recently bought and sold shares of the stock. Algert Global LLC purchased a new stake in The Rubicon Project during the third quarter valued at approximately $794,000. Cubist Systematic Strategies LLC lifted its position in The Rubicon Project by 308.5% during the third 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 last quarter. Highbridge Capital Management LLC lifted its position in The Rubicon Project by 34.3% during the third quarter. Highbridge Capital Management LLC now owns 117,621 shares of the software maker’s stock valued at $458,000 after acquiring an additional 30,014 shares during the last quarter. Sessa Capital IM L.P. lifted its position in The Rubicon Project by 76.5% during the third quarter. Sessa Capital IM L.P. now owns 2,262,748 shares of the software maker’s stock valued at $8,802,000 after acquiring an additional 980,420 shares during the last quarter. Finally, Royce & Associates LP lifted its position in The Rubicon Project by 154.7% during the third quarter. Royce & Associates LP now owns 234,817 shares of the software maker’s stock valued at $913,000 after acquiring an additional 142,617 shares during the last quarter. 62.62% of the stock is owned by institutional investors.

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About The Rubicon Project

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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