Simcoe Capital LLC Takes Position in PubMatic, Inc. $PUBM

Key Points

• Simcoe Capital LLC opened a new position in PubMatic during the fourth quarter, buying 408,690 shares worth about $3.6 million. The stake represents roughly 3.4% of Simcoe’s portfolio and about 0.88% of PubMatic.
• PubMatic’s latest earnings beat expectations, with EPS of -$0.27 versus the expected -$0.32 and revenue of $62.57 million topping estimates. Analysts still expect the company to post a loss for the full year.
• Sentiment is mixed: several analysts recently upgraded or maintained positive ratings, but insider selling has continued, including notable sales by an insider and the CFO. The stock closed around $9.78, with a consensus analyst target price of $12.88.

Simcoe Capital LLC purchased a new stake in shares of PubMatic, Inc. (NASDAQ:PUBM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 408,690 shares of the company's stock, valued at approximately $3,625,000. PubMatic comprises about 3.4% of Simcoe Capital LLC's investment portfolio, making the stock its 14th biggest holding. Simcoe Capital LLC owned about 0.88% of PubMatic at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of PubMatic by 264.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company's stock valued at $61,000 after purchasing an additional 3,541 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company's stock valued at $73,000 after purchasing an additional 4,856 shares during the last quarter. M&T Bank Corp bought a new position in PubMatic in the fourth quarter valued at approximately $91,000. Versor Investments LP bought a new position in PubMatic in the fourth quarter valued at approximately $115,000. Finally, Aquatic Capital Management LLC bought a new position in PubMatic in the third quarter valued at approximately $131,000. 64.26% of the stock is owned by institutional investors.

PubMatic Price Performance

Shares of PUBM opened at $9.78 on Wednesday. The firm has a 50-day moving average of $8.88 and a 200-day moving average of $8.42. PubMatic, Inc. has a one year low of $6.15 and a one year high of $13.88. The company has a market cap of $463.57 million, a PE ratio of -25.74 and a beta of 1.54.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $0.05. The company had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Analysts expect that PubMatic, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PUBM shares. Wall Street Zen raised shares of PubMatic from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PubMatic in a research note on Tuesday, April 21st. Lake Street Capital upgraded shares of PubMatic from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. Royal Bank Of Canada increased their target price on shares of PubMatic from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $21.00 target price on shares of PubMatic in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.88.

Insider Buying and Selling at PubMatic

In other PubMatic news, insider Mukul Kumar sold 7,830 shares of PubMatic stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $8.17, for a total value of $63,971.10. Following the completion of the sale, the insider owned 99,485 shares in the company, valued at $812,792.45. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Pantelick sold 16,282 shares of the business's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $8.44, for a total transaction of $137,420.08. Following the completion of the sale, the chief financial officer directly owned 41,319 shares of the company's stock, valued at $348,732.36. This represents a 28.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 280,290 shares of company stock worth $2,324,965 in the last ninety days. Insiders own 27.78% of the company's stock.

PubMatic Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq symbol: PUBM in December 2020.

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