RPX Corporation (NASDAQ:RPXC) has received a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $13.33.
Several equities research analysts have recently commented on RPXC shares. BidaskClub downgraded shares of RPX Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded shares of RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, August 8th.
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In related news, insider Mallun Yen sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $12.92, for a total transaction of $129,200.00. Following the transaction, the insider now owns 157,560 shares in the company, valued at approximately $2,035,675.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shelby W. Bonnie sold 34,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.51, for a total transaction of $425,340.00. Following the transaction, the director now owns 64,757 shares in the company, valued at approximately $810,110.07. The disclosure for this sale can be found here. Insiders sold a total of 86,560 shares of company stock worth $1,094,932 in the last 90 days. 3.52% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of RPXC. Victory Capital Management Inc. lifted its position in RPX Corporation by 43.9% during the 1st quarter. Victory Capital Management Inc. now owns 10,263 shares of the business services provider’s stock worth $123,000 after buying an additional 3,131 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in RPX Corporation during the 1st quarter worth about $211,000. KCG Holdings Inc. acquired a new position in RPX Corporation during the 1st quarter worth about $221,000. Public Employees Retirement System of Ohio lifted its position in RPX Corporation by 16.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 27,622 shares of the business services provider’s stock worth $331,000 after buying an additional 3,854 shares in the last quarter. Finally, AXA acquired a new position in RPX Corporation during the 1st quarter worth about $354,000. Institutional investors and hedge funds own 88.05% of the company’s stock.
Shares of RPX Corporation (NASDAQ:RPXC) traded down 1.19% during mid-day trading on Friday, reaching $13.34. 162,925 shares of the company traded hands. The stock has a market capitalization of $660.33 million, a PE ratio of 33.27 and a beta of 1.44. RPX Corporation has a 52-week low of $8.98 and a 52-week high of $15.15. The stock’s 50 day moving average is $13.11 and its 200 day moving average is $13.23.
RPX Corporation (NASDAQ:RPXC) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The company had revenue of $80.40 million for the quarter, compared to the consensus estimate of $81.27 million. During the same quarter in the previous year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts anticipate that RPX Corporation will post $0.72 earnings per share for the current year.
About RPX Corporation
RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.
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