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

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

Wall Street Analysts Forecast Growth

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

Insider Activity at LiveRamp

In other news, CTO Mohsin Hussain sold 3,554 shares of LiveRamp stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $33.67, for a total value of $119,663.18. Following the sale, the chief technology officer now directly owns 57,594 shares of the company’s stock, valued at approximately $1,939,189.98. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Vihan Sharma sold 39,845 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $35.56, for a total value of $1,416,888.20. Following the transaction, the executive now directly owns 110,902 shares of the company’s stock, valued at approximately $3,943,675.12. The trade was a 26.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LiveRamp

A number of large investors have recently modified their holdings of the business. Jefferies Financial Group Inc. purchased a new position in LiveRamp during the 4th quarter worth approximately $243,000. Mackenzie Financial Corp increased its holdings in LiveRamp by 44.6% in the 4th quarter. Mackenzie Financial Corp now owns 117,821 shares of the company’s stock worth $3,578,000 after acquiring an additional 36,360 shares in the last quarter. Woodline Partners LP purchased a new stake in LiveRamp in the 4th quarter worth $359,000. Two Sigma Advisers LP raised its position in LiveRamp by 28.6% during the fourth quarter. Two Sigma Advisers LP now owns 11,700 shares of the company’s stock worth $355,000 after acquiring an additional 2,600 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of LiveRamp in the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 93.83% of the company’s stock.

LiveRamp Trading Up 0.5 %

Shares of RAMP stock traded up $0.12 during trading hours on Tuesday, reaching $26.52. 133,200 shares of the stock were exchanged, compared to its average volume of 597,969. LiveRamp has a 12-month low of $21.45 and a 12-month high of $38.00. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 2,650.50 and a beta of 0.96. The company’s 50-day moving average price is $31.41 and its 200-day moving average price is $28.88.

LiveRamp (NYSE:RAMP) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.23 EPS 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%. On average, sell-side analysts expect that LiveRamp will post 0.48 EPS for the current year.

About LiveRamp

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.