The Rubicon Project (RUBI) Reaches New 1-Year High After Earnings Beat

The Rubicon Project Inc (NYSE:RUBI)’s share price hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $4.25 and last traded at $3.98, with a volume of 23943 shares traded. The stock had previously closed at $3.48.

The software maker reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The firm had revenue of $29.73 million for the quarter, compared to analysts’ expectations of $28.93 million. The Rubicon Project had a negative return on equity of 42.04% and a negative net margin of 144.16%.

A number of brokerages recently issued reports on RUBI. Zacks Investment Research upgraded The Rubicon Project from a “sell” rating to a “hold” rating in a report on Saturday, August 25th. SunTrust Banks reiterated a “buy” rating and issued a $4.00 target price on shares of The Rubicon Project in a report on Thursday, August 2nd. Finally, Craig Hallum reiterated a “buy” rating on shares of The Rubicon Project in a report on Friday, October 12th.

Several institutional investors and hedge funds have recently modified their holdings of RUBI. CAPROCK Group Inc. bought a new position in shares of The Rubicon Project in the 3rd quarter worth $144,000. Acadian Asset Management LLC lifted its holdings in shares of The Rubicon Project by 188.1% in the 3rd quarter. Acadian Asset Management LLC now owns 41,839 shares of the software maker’s stock worth $150,000 after purchasing an additional 27,318 shares in the last quarter. California Public Employees Retirement System bought a new position in shares of The Rubicon Project in the 1st quarter worth $174,000. JPMorgan Chase & Co. lifted its holdings in shares of The Rubicon Project by 237.8% in the 1st quarter. JPMorgan Chase & Co. now owns 98,141 shares of the software maker’s stock worth $177,000 after purchasing an additional 69,088 shares in the last quarter. Finally, Cannell Capital LLC bought a new position in shares of The Rubicon Project in the 2nd quarter worth $179,000. Institutional investors own 58.35% of the company’s stock.

The firm has a market capitalization of $176.61 million, a PE ratio of -3.93 and a beta of 1.24.

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The Rubicon Project Company Profile (NYSE:RUBI)

The Rubicon Project, Inc 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.

Further Reading: How can you know how many shares are floating?

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