The Rubicon Project, Inc. (NYSE:RUBI) announced its quarterly earnings data on Thursday. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02), Bloomberg Earnings reports. The Rubicon Project had a negative return on equity of 8.38% and a negative net margin of 77.31%. The firm had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $39.38 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The Rubicon Project’s revenue was down 41.9% on a year-over-year basis.

Shares of The Rubicon Project (RUBI) opened at $2.07 on Friday.

A hedge fund recently raised its stake in The Rubicon Project stock. The Manufacturers Life Insurance Company grew its position in The Rubicon Project, Inc. (NYSE:RUBI) by 20.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,052 shares of the software maker’s stock after acquiring an additional 6,178 shares during the period. The Manufacturers Life Insurance Company owned 0.08% of The Rubicon Project worth $191,000 at the end of the most recent reporting period. 62.27% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on RUBI. Zacks Investment Research downgraded The Rubicon Project from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. ValuEngine downgraded The Rubicon Project from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. B. Riley reissued a “hold” rating and set a $5.00 target price on shares of The Rubicon Project in a research report on Monday, October 23rd. BidaskClub downgraded The Rubicon Project from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of The Rubicon Project in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.86.

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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.

Earnings History for The Rubicon Project (NYSE:RUBI)

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