Nationwide Fund Advisors Lowers Holdings in The Rubicon Project, Inc. (NYSE:RUBI)

January 18th, 20187:55 am @

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Nationwide Fund Advisors lessened its stake in The Rubicon Project, Inc. (NYSE:RUBI) by 44.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 106,581 shares of the software maker’s stock after selling 83,756 shares during the quarter. Nationwide Fund Advisors owned 0.22% of The Rubicon Project worth $415,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in The Rubicon Project by 83.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,866,791 shares of the software maker’s stock worth $9,596,000 after purchasing an additional 846,857 shares during the last quarter. Divisar Capital Management LLC lifted its stake in The Rubicon Project by 38.5% during the second quarter. Divisar Capital Management LLC now owns 2,476,289 shares of the software maker’s stock worth $12,728,000 after purchasing an additional 688,801 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in The Rubicon Project during the second quarter worth approximately $863,000. Vanguard Group Inc. lifted its stake in The Rubicon Project by 5.8% during the second quarter. Vanguard Group Inc. now owns 1,712,725 shares of the software maker’s stock worth $8,802,000 after purchasing an additional 93,265 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in The Rubicon Project during the second quarter worth approximately $445,000. Institutional investors and hedge funds own 62.62% of the company’s stock.

Several equities research analysts recently weighed in on the company. Needham Company LLC restated a “hold” rating on shares of The Rubicon Project in a research note on Friday, November 3rd. Citigroup reduced their price objective on The Rubicon Project from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Finally, B. Riley reiterated a “hold” rating and issued a $3.00 price objective 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 assigned a hold rating to the stock. The Rubicon Project currently has a consensus rating of “Hold” and a consensus price target of $5.61.

The Rubicon Project, Inc. (RUBI) opened at $2.23 on Thursday. The stock has a market capitalization of $111.03, a P/E ratio of -0.71 and a beta of 1.25. The Rubicon Project, Inc. has a twelve month low of $1.68 and a twelve month high of $9.05.

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

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The Rubicon Project 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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