Nordea Investment Management AB Invests $587,000 in The Rubicon Project Inc. (RUBI)
Nordea Investment Management AB purchased a new stake in The Rubicon Project Inc. (NYSE:RUBI) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 43,024 shares of the company’s stock, valued at approximately $587,000. Nordea Investment Management AB owned about 0.09% of The Rubicon Project at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. BlackRock Group LTD raised its position in shares of The Rubicon Project by 399.9% in the first quarter. BlackRock Group LTD now owns 9,539 shares of the company’s stock worth $175,000 after buying an additional 7,631 shares during the last quarter. Quotient Investors LLC acquired a new position in shares of The Rubicon Project during the second quarter worth about $186,000. Pacad Investment Ltd. acquired a new position in shares of The Rubicon Project during the first quarter worth about $296,000. Algert Global LLC acquired a new position in shares of The Rubicon Project during the first quarter worth about $320,000. Finally, Gradient Investments LLC acquired a new position in shares of The Rubicon Project during the second quarter worth about $280,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.
The Rubicon Project Inc. (NYSE:RUBI) traded down 0.70% on Friday, hitting $8.56. The stock had a trading volume of 873,791 shares. The Rubicon Project Inc. has a 1-year low of $8.04 and a 1-year high of $20.37. The firm has a market cap of $418.76 million, a P/E ratio of 24.53 and a beta of 1.54. The firm’s 50-day moving average price is $9.94 and its 200-day moving average price is $14.48.
The Rubicon Project (NYSE:RUBI) last released its earnings results on Tuesday, August 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.07. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $63.76 million. The Rubicon Project had a return on equity of 13.18% and a net margin of 6.15%. The company’s revenue was up 34.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. On average, equities research analysts predict that The Rubicon Project Inc. will post $0.88 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Citigroup Inc. upped their price target on The Rubicon Project from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, September 13th. Jefferies Group reissued a “buy” rating and set a $14.00 price target on shares of The Rubicon Project in a research report on Monday, August 22nd. TheStreet lowered The Rubicon Project from a “hold” rating to a “sell” rating in a research report on Friday, August 19th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of The Rubicon Project in a research report on Friday, May 27th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $14.00 price target on shares of The Rubicon Project in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.41.
About The Rubicon Project
The Rubicon Project, Inc offers a technology solution to automate the purchase and sale of advertising for both 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, real-time bidding (RTB) and static bidding, 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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