Assenagon Asset Management S.A. Sells 449,827 Shares of LiveRamp Holdings, Inc. $RAMP

Key Points

• Assenagon Asset Management cut its stake in LiveRamp by 95% in Q4, selling 449,827 shares and retaining 23,632 shares worth $694,000.
• LiveRamp beat quarterly EPS estimates ($0.76 vs. $0.69) with revenue up 8.6% year-over-year, and its board authorized a $200 million share buyback (about 13.6% of outstanding shares).
• Analyst sentiment is mixed: the consensus rating is Hold with a $39 price target, comprised of three Buy and four Hold ratings amid recent target and coverage changes.

Assenagon Asset Management S.A. trimmed its position in shares of LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) by 95.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,632 shares of the company's stock after selling 449,827 shares during the period. Assenagon Asset Management S.A.'s holdings in LiveRamp were worth $694,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH grew its position in shares of LiveRamp by 57.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 259,945 shares of the company's stock worth $7,055,000 after buying an additional 95,135 shares during the last quarter. Cresset Asset Management LLC purchased a new stake in shares of LiveRamp in the 2nd quarter worth about $2,036,000. Nomura Holdings Inc. bought a new stake in shares of LiveRamp during the 2nd quarter valued at about $3,007,000. Jefferies Financial Group Inc. bought a new stake in shares of LiveRamp during the 3rd quarter valued at about $1,042,000. Finally, Invenomic Capital Management LP increased its position in shares of LiveRamp by 61.4% during the third quarter. Invenomic Capital Management LP now owns 469,766 shares of the company's stock valued at $12,749,000 after buying an additional 178,799 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on RAMP shares. Zacks Research cut LiveRamp from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 12th. Weiss Ratings restated a "hold (c)" rating on shares of LiveRamp in a report on Friday, March 27th. Evercore began coverage on shares of LiveRamp in a research report on Tuesday, March 24th. They issued an "outperform" rating and a $37.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of LiveRamp from $34.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, February 6th. Finally, Benchmark dropped their price objective on shares of LiveRamp from $53.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, LiveRamp has a consensus rating of "Hold" and a consensus price target of $39.00.

LiveRamp Stock Up 0.3%

Shares of RAMP stock opened at $26.59 on Thursday. The company has a 50 day moving average price of $26.03 and a 200-day moving average price of $27.48. LiveRamp Holdings, Inc. has a 52 week low of $21.71 and a 52 week high of $35.20. The firm has a market capitalization of $1.68 billion, a PE ratio of 25.09 and a beta of 1.12.

LiveRamp (NYSE:RAMP - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.07. LiveRamp had a net margin of 8.64% and a return on equity of 6.40%. The company had revenue of $212.20 million for the quarter, compared to the consensus estimate of $211.68 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that LiveRamp Holdings, Inc. will post 0.48 earnings per share for the current year.

LiveRamp declared that its board has authorized a stock repurchase plan on Thursday, February 12th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

LiveRamp Company Profile

LiveRamp Holdings, Inc is a leading provider of data connectivity and identity resolution services for marketers, publishers and platforms. The company's core technology enables organizations to link disparate data sources—such as CRM systems, web engagements and offline transaction records—into a single, privacy-safe view of individual consumers. By standardizing and anonymizing identifiers, LiveRamp's platform facilitates targeted media activation, measurement and analytics across digital, mobile, addressable TV and offline channels.

The company offers a suite of products designed to support every stage of the data lifecycle.

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