The Rubicon Project (NYSE:RUBI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of The Rubicon Project (NYSE:RUBI) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “The Rubicon Project, Inc. is a global technology company that focuses to automate the buying and selling of advertising. The Company’s Advertising Automation Cloud is a scalable software platform that powers and optimizes a marketplace for the real time trading of digital advertising between buyers and sellers. Its advertising automation cloud incorporates machine-learning algorithms, data processing, high volume storage, detailed analytics capabilities, and a distributed infrastructure. The Rubicon Project, Inc. is headquartered in Los Angeles, California. “

RUBI has been the subject of a number of other research reports. ValuEngine upgraded The Rubicon Project from a hold rating to a buy rating in a report on Wednesday, April 24th. B. Riley assumed coverage on The Rubicon Project in a report on Wednesday, April 17th. They set a buy rating and a $9.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $7.42.

Shares of NYSE RUBI traded up $2.06 on Wednesday, reaching $9.67. 1,297,054 shares of the company traded hands, compared to its average volume of 547,034. The Rubicon Project has a fifty-two week low of $2.68 and a fifty-two week high of $7.86. The firm’s 50 day moving average is $6.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $393.50 million, a PE ratio of -11.37 and a beta of 1.70.

The Rubicon Project (NYSE:RUBI) last issued its earnings results on Wednesday, May 1st. The software maker reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.06. The Rubicon Project had a negative return on equity of 23.77% and a negative net margin of 35.21%. The business had revenue of $32.42 million during the quarter, compared to analysts’ expectations of $31.20 million. As a group, analysts anticipate that The Rubicon Project will post -0.66 earnings per share for the current year.

In other news, CFO David Day sold 25,256 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $6.22, for a total transaction of $157,092.32. Following the completion of the sale, the chief financial officer now owns 305,841 shares in the company, valued at approximately $1,902,331.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Kershaw sold 29,311 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $6.19, for a total value of $181,435.09. Following the completion of the transaction, the chief technology officer now owns 601,278 shares of the company’s stock, valued at approximately $3,721,910.82. The disclosure for this sale can be found here. Insiders have sold a total of 269,034 shares of company stock valued at $1,656,259 in the last quarter. Company insiders own 10.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC purchased a new position in The Rubicon Project in the 4th quarter worth approximately $46,000. Aperio Group LLC purchased a new position in The Rubicon Project in the 2nd quarter worth approximately $48,000. Fox Run Management L.L.C. purchased a new position in The Rubicon Project in the 2nd quarter worth approximately $64,000. 361 Capital LLC purchased a new position in The Rubicon Project in the 1st quarter worth approximately $75,000. Finally, Bailard Inc. purchased a new position in The Rubicon Project in the 1st quarter worth approximately $86,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.

About The Rubicon Project

The Rubicon Project, Inc, together with its subsidiaries, 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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