40 North Management Lowers stake in The Rubicon Project Inc (RUBI)

The Rubicon Project Inc (RUBI) : 40 North Management reduced its stake in The Rubicon Project Inc by 27.27% during the most recent quarter end. The investment management company now holds a total of 3,211,546 shares of The Rubicon Project Inc which is valued at $30,927,188 after selling 1,204,454 shares in The Rubicon Project Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.The Rubicon Project Inc makes up approximately 3.66% of 40 North Management’s portfolio.

Other Hedge Funds, Including , Aqr Capital Management reduced its stake in RUBI by selling 90,859 shares or 82.71% in the most recent quarter. The Hedge Fund company now holds 18,988 shares of RUBI which is valued at $182,854. Shearlink Capital sold out all of its stake in RUBI during the most recent quarter. The investment firm sold 552,107 shares of RUBI which is valued $5,316,790. Bogle Investment Management L P De added RUBI to its portfolio by purchasing 224,725 company shares during the most recent quarter which is valued at $2,164,102. The Rubicon Project Inc makes up approx 0.14% of Bogle Investment Management L P De’s portfolio.Credit Suisse Ag boosted its stake in RUBI in the latest quarter, The investment management firm added 50,496 additional shares and now holds a total of 83,182 shares of The Rubicon Project Inc which is valued at $801,043. Dynamic Technology Lab Private Ltd added RUBI to its portfolio by purchasing 32,361 company shares during the most recent quarter which is valued at $311,636. The Rubicon Project Inc makes up approx 0.08% of Dynamic Technology Lab Private Ltd’s portfolio.

The Rubicon Project Inc opened for trading at $8.47 and hit $8.65 on the upside on Thursday, eventually ending the session at $8.61, with a gain of 1.29% or 0.11 points. The heightened volatility saw the trading volume jump to 9,55,560 shares. Company has a market cap of $421 M.

On the company’s financial health, The Rubicon Project Inc reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.10. The company had revenue of $65.11 million for the quarter, compared to analysts expectations of $63.62 million. The company’s revenue was up 34.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Many Wall Street Analysts have commented on The Rubicon Project Inc. The Rubicon Project Inc was Downgraded by First Analysis Sec to ” Equal-Weight” on Aug 16, 2016. The Rubicon Project Inc was Downgraded by Citigroup to ” Neutral” on Aug 4, 2016. The Rubicon Project Inc was Downgraded by Needham to ” Hold” on Aug 4, 2016.

The Rubicon Project Inc. is a technology company that focuses to automate the buying and selling of advertising. The Company’s Advertising Automation Cloud platform provides user reach and a marketplace for the real time trading of digital advertising between buyers and sellers. Buyers of digital advertising use its platform to reach around 600 million Internet users globally on some of the sellers’ Websites and applications. Sellers of digital advertising use its platform for advertising while accessing a market of buyers representing advertiser brands around the world. Its Advertising Automation Cloud features applications for digital advertising sellers including Websites mobile applications and other digital media properties to sell advertising inventory; applications for buyers including advertisers agencies agency trading desks (ATDs) demand side platforms (DSPs) and ad networks to buy advertising inventory and a marketplace where such transactions are executed.

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