LiveRamp Holdings, Inc. (NYSE:RAMP) Sees Large Drop in Short Interest

LiveRamp Holdings, Inc. (NYSE:RAMP) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,230,000 shares, a decline of 16.3% from the February 13th total of 1,470,000 shares. Based on an average daily volume of 551,200 shares, the short-interest ratio is presently 2.2 days. Currently, 1.9% of the shares of the company are short sold.

LiveRamp Price Performance

RAMP stock traded up $0.26 during midday trading on Wednesday, reaching $26.93. 624,865 shares of the stock were exchanged, compared to its average volume of 600,116. LiveRamp has a 52 week low of $21.45 and a 52 week high of $38.00. The company has a fifty day moving average price of $31.28 and a 200 day moving average price of $28.88. The stock has a market capitalization of $1.77 billion, a PE ratio of 2,693.40 and a beta of 0.96.

LiveRamp (NYSE:RAMP) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). LiveRamp had a return on equity of 0.97% and a net margin of 0.01%. As a group, analysts anticipate that LiveRamp will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at LiveRamp

In related news, CRO Vihan Sharma sold 39,845 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $35.56, for a total value of $1,416,888.20. Following the transaction, the executive now owns 110,902 shares in the company, valued at approximately $3,943,675.12. This trade represents a 26.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mohsin Hussain sold 3,554 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $33.67, for a total value of $119,663.18. Following the completion of the transaction, the chief technology officer now directly owns 57,594 shares of the company’s stock, valued at approximately $1,939,189.98. This trade represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.39% of the company’s stock.

Hedge Funds Weigh In On LiveRamp

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAMP. American Capital Management Inc. grew its stake in shares of LiveRamp by 46.7% in the third quarter. American Capital Management Inc. now owns 2,877,814 shares of the company’s stock worth $71,312,000 after purchasing an additional 916,578 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of LiveRamp in the 4th quarter valued at about $15,251,000. Boston Partners increased its stake in shares of LiveRamp by 109.4% in the fourth quarter. Boston Partners now owns 690,057 shares of the company’s stock valued at $21,331,000 after buying an additional 360,440 shares during the period. Invenomic Capital Management LP raised its position in shares of LiveRamp by 257.7% during the third quarter. Invenomic Capital Management LP now owns 337,574 shares of the company’s stock worth $8,365,000 after acquiring an additional 243,198 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of LiveRamp by 30.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 984,040 shares of the company’s stock worth $29,885,000 after acquiring an additional 230,478 shares during the last quarter. 93.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on RAMP. Benchmark reissued a “buy” rating and issued a $45.00 price objective on shares of LiveRamp in a research note on Wednesday, February 26th. StockNews.com upgraded LiveRamp from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 22nd. Evercore ISI upped their price objective on LiveRamp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on LiveRamp from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, LiveRamp currently has an average rating of “Moderate Buy” and a consensus price target of $39.83.

LiveRamp Company Profile

LiveRamp Holdings, Inc, a technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally. The company operates LiveRamp Data Collaboration platform enables an organization to unify customer and prospect data to build a single view of the customer in a way that protects consumer privacy.