The Rubicon Project, Inc. (NYSE:RUBI) had its price objective lowered by Citigroup Inc. from $4.00 to $3.00 in a report issued on Friday, November 3rd. The firm currently has a neutral rating on the software maker’s stock.
Several other research firms also recently commented on RUBI. BidaskClub downgraded shares of The Rubicon Project from a hold rating to a sell rating in a research report on Saturday, July 8th. B. Riley reaffirmed a neutral rating and issued a $5.00 price target on shares of The Rubicon Project in a research report on Tuesday, September 12th. Needham & Company LLC reaffirmed a hold rating on shares of The Rubicon Project in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised The Rubicon Project from a hold rating to a buy rating and set a $5.50 price target on the stock in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock currently has an average rating of Hold and an average target price of $5.61.
Shares of The Rubicon Project (NYSE RUBI) traded down $0.02 during mid-day trading on Friday, reaching $1.80. The company had a trading volume of 618,334 shares, compared to its average volume of 692,009. The Rubicon Project has a 1-year low of $1.77 and a 1-year high of $9.16.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Algert Global LLC bought a new position in The Rubicon Project during the third quarter worth about $794,000. Cubist Systematic Strategies LLC lifted its stake in The Rubicon Project by 308.5% during the third quarter. Cubist Systematic Strategies LLC now owns 39,706 shares of the software maker’s stock worth $154,000 after purchasing an additional 29,985 shares during the period. Highbridge Capital Management LLC lifted its stake in The Rubicon Project by 34.3% during the third quarter. Highbridge Capital Management LLC now owns 117,621 shares of the software maker’s stock worth $458,000 after purchasing an additional 30,014 shares during the period. Sessa Capital IM L.P. raised its stake in shares of The Rubicon Project by 76.5% in the third quarter. Sessa Capital IM L.P. now owns 2,262,748 shares of the software maker’s stock valued at $8,802,000 after acquiring an additional 980,420 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of The Rubicon Project by 154.7% in the third quarter. Royce & Associates LP now owns 234,817 shares of the software maker’s stock valued at $913,000 after acquiring an additional 142,617 shares during the last quarter. Hedge funds and other institutional investors own 63.22% of the company’s stock.
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.
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