Spark Investment Management LLC Sells 193,000 Shares of The Rubicon Project, Inc. (RUBI)

Spark Investment Management LLC cut its stake in shares of The Rubicon Project, Inc. (NYSE:RUBI) by 38.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,000 shares of the software maker’s stock after selling 193,000 shares during the period. Spark Investment Management LLC owned 0.64% of The Rubicon Project worth $1,598,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Divisar Capital Management LLC raised its stake in The Rubicon Project by 82.4% in the first quarter. Divisar Capital Management LLC now owns 1,787,488 shares of the software maker’s stock worth $10,528,000 after buying an additional 807,583 shares during the period. Vanguard Group Inc. raised its stake in The Rubicon Project by 10.0% in the first quarter. Vanguard Group Inc. now owns 1,619,460 shares of the software maker’s stock worth $9,538,000 after buying an additional 146,748 shares during the period. Dimensional Fund Advisors LP raised its stake in The Rubicon Project by 121.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,019,934 shares of the software maker’s stock worth $6,007,000 after buying an additional 559,275 shares during the period. Norges Bank bought a new stake in The Rubicon Project during the fourth quarter worth approximately $7,260,000. Finally, Prescott Group Capital Management L.L.C. raised its stake in The Rubicon Project by 21.8% in the first quarter. Prescott Group Capital Management L.L.C. now owns 828,256 shares of the software maker’s stock worth $4,878,000 after buying an additional 148,247 shares during the period. Institutional investors own 61.74% of the company’s stock.

The Rubicon Project, Inc. (NYSE RUBI) remained flat at $3.57 on Friday. The company had a trading volume of 954,213 shares. The company’s 50 day moving average price is $4.61 and its 200 day moving average price is $5.93. The company’s market capitalization is $175.10 million. The Rubicon Project, Inc. has a 52-week low of $3.38 and a 52-week high of $9.31.

The Rubicon Project (NYSE:RUBI) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.06. The Rubicon Project had a negative return on equity of 1.15% and a negative net margin of 20.28%. The company had revenue of $42.90 million during the quarter, compared to analysts’ expectations of $47.98 million. During the same quarter last year, the business earned $0.17 earnings per share. The business’s quarterly revenue was down 34.1% on a year-over-year basis. On average, analysts predict that The Rubicon Project, Inc. will post ($0.46) earnings per share for the current year.

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A number of equities research analysts have commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $7.25 price target on shares of The Rubicon Project in a research report on Monday, May 8th. BidaskClub downgraded The Rubicon Project from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. ValuEngine downgraded The Rubicon Project from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. B. Riley reissued a “neutral” rating and issued a $5.00 price objective on shares of The Rubicon Project in a research note on Monday, August 7th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $6.00 price objective on shares of The Rubicon Project in a research note on Monday, June 5th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The Rubicon Project has a consensus rating of “Hold” and a consensus price target of $7.79.

The Rubicon Project Company 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.

Institutional Ownership by Quarter for The Rubicon Project (NYSE:RUBI)

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