Bank of America Corp DE Buys New Holdings in LiveRamp Holdings, Inc. $RAMP

Key Points

• Bank of America acquired 292,047 LiveRamp shares worth approximately $11.0 million in the second quarter, giving it a 0.48% stake. Institutional investors collectively own 93.83% of the company.
• Analysts maintain a generally neutral outlook, with an average rating of “Hold” and an average price target of $40.21; two analysts rate the stock a Buy and six rate it a Hold.
• LiveRamp exceeded quarterly expectations, reporting adjusted EPS of $0.65 versus the $0.58 consensus and revenue of $213.99 million, up 9.9% year over year.

Bank of America Corp DE bought a new position in LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 292,047 shares of the company's stock, valued at approximately $10,993,000. Bank of America Corp DE owned 0.48% of LiveRamp at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its stake in shares of LiveRamp by 769.1% in the 1st quarter. Sound Income Strategies LLC now owns 1,069 shares of the company's stock worth $28,000 after purchasing an additional 946 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of LiveRamp by 197.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,096 shares of the company's stock worth $32,000 after acquiring an additional 727 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of LiveRamp by 63.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the company's stock worth $44,000 after acquiring an additional 583 shares during the last quarter. Clearstead Advisors LLC grew its position in shares of LiveRamp by 58.7% during the 4th quarter. Clearstead Advisors LLC now owns 2,128 shares of the company's stock valued at $62,000 after acquiring an additional 787 shares during the period. Finally, Longfellow Investment Management Co. LLC bought a new stake in shares of LiveRamp during the 2nd quarter valued at $81,000. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on RAMP. Weiss Ratings upgraded LiveRamp from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. DA Davidson reissued a "neutral" rating on shares of LiveRamp in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $40.21.

LiveRamp Price Performance

RAMP opened at $37.52 on Friday. The company has a 50 day simple moving average of $37.74 and a two-hundred day simple moving average of $34.45. The firm has a market cap of $2.28 billion, a P/E ratio of 15.38 and a beta of 1.25. LiveRamp Holdings, Inc. has a 1-year low of $21.71 and a 1-year high of $38.23.

LiveRamp (NYSE:RAMP - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.07. LiveRamp had a net margin of 18.71% and a return on equity of 9.77%. The company had revenue of $213.99 million for the quarter, compared to analysts' expectations of $211.45 million. During the same quarter in the previous year, the company earned $0.44 EPS. LiveRamp's revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts anticipate that LiveRamp Holdings, Inc. will post 2.04 earnings per share for the current year.

About LiveRamp

LiveRamp Holdings, Inc provides data collaboration and identity solutions that help companies connect, organize and activate customer information across digital and offline marketing channels. Its platform is designed to support privacy-conscious data sharing while enabling businesses to create a more consistent understanding of customers and prospects.

The company's offerings include identity resolution, data onboarding, audience activation, data collaboration and marketing measurement tools.

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