Bank of New York Mellon Corp Decreases Position in LiveRamp Holdings, Inc. $RAMP

Key Points

• Bank of New York Mellon reduced its LiveRamp stake by 8% in the first quarter, selling 36,990 shares and retaining 425,582 shares worth approximately $11.3 million. Institutional investors collectively own 93.83% of the company.
• Analyst sentiment is cautious: LiveRamp received two Buy ratings and six Holds, resulting in a consensus Hold rating and a $40.21 average price target.
• LiveRamp’s latest quarterly results exceeded expectations, with earnings of $0.52 per share versus $0.49 forecast and revenue of $206.1 million, up 9.2% year over year. Shares opened at $37.87, near their 12-month high of $38.23.

Bank of New York Mellon Corp decreased its stake in LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 425,582 shares of the company's stock after selling 36,990 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of LiveRamp worth $11,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Azzad Asset Management Inc. ADV boosted its stake in shares of LiveRamp by 1.1% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 32,887 shares of the company's stock worth $872,000 after purchasing an additional 353 shares during the period. Lido Advisors LLC boosted its position in shares of LiveRamp by 4.8% during the fourth quarter. Lido Advisors LLC now owns 9,418 shares of the company's stock valued at $261,000 after buying an additional 429 shares during the period. Engineers Gate Manager LP boosted its position in shares of LiveRamp by 0.5% during the second quarter. Engineers Gate Manager LP now owns 113,424 shares of the company's stock valued at $3,748,000 after buying an additional 561 shares during the period. US Bancorp DE grew its stake in shares of LiveRamp by 8.8% during the third quarter. US Bancorp DE now owns 6,944 shares of the company's stock valued at $188,000 after buying an additional 564 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of LiveRamp by 63.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the company's stock valued at $44,000 after buying an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered LiveRamp from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, June 8th. DA Davidson lowered LiveRamp from a "buy" rating to a "neutral" rating and increased their target price for the stock from $35.00 to $38.50 in a research note on Monday, May 18th. Craig Hallum downgraded LiveRamp from a "buy" rating to a "hold" rating and set a $38.50 target price for the company. in a research report on Tuesday, May 19th. Finally, Morgan Stanley set a $38.50 target price on shares of LiveRamp in a research note on Friday, May 22nd. Two 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 stock currently has a consensus rating of "Hold" and a consensus price target of $40.21.

LiveRamp Trading Up 0.2%

Shares of LiveRamp stock opened at $37.87 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of 16.61 and a beta of 1.27. LiveRamp Holdings, Inc. has a 12 month low of $21.71 and a 12 month high of $38.23. The stock's fifty day moving average price is $37.67 and its 200-day moving average price is $31.01.

LiveRamp (NYSE:RAMP - Get Free Report) last released its quarterly earnings data on Monday, May 18th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.03. The company had revenue of $206.09 million during the quarter, compared to analyst estimates of $205.49 million. LiveRamp had a net margin of 17.95% and a return on equity of 8.28%. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. Analysts forecast that LiveRamp Holdings, Inc. will post 2.07 earnings per share for the current year.

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.

Want to see what other hedge funds are holding RAMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.