RPX (RPXC) Earns “Sell” Rating from Barclays

Barclays reissued their sell rating on shares of RPX (NASDAQ:RPXC) in a research report report published on Friday, January 5th. They currently have a $14.00 price target on the business services provider’s stock.

A number of other brokerages have also recently weighed in on RPXC. BidaskClub cut RPX from a hold rating to a sell rating in a research report on Tuesday, December 12th. Robert W. Baird reiterated a buy rating and issued a $15.00 price target on shares of RPX in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut RPX from a buy rating to a hold rating in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $14.25.

Shares of RPX (NASDAQ RPXC) traded up $0.40 during midday trading on Friday, hitting $13.48. The company had a trading volume of 379,763 shares, compared to its average volume of 194,830. RPX has a 1-year low of $10.41 and a 1-year high of $15.15. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.16. The company has a market cap of $647.81, a PE ratio of 37.45 and a beta of 1.38.

RPX (NASDAQ:RPXC) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. RPX had a return on equity of 5.16% and a net margin of 5.53%. The company had revenue of $85.70 million during the quarter, compared to analyst estimates of $82.70 million. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year.

In other RPX news, CFO David James Anderson sold 5,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $12.98, for a total value of $64,900.00. Following the transaction, the chief financial officer now owns 12,756 shares of the company’s stock, valued at $165,572.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.52% of the company’s stock.

A hedge fund recently raised its stake in RPX stock. Nationwide Fund Advisors increased its position in shares of RPX Corp (NASDAQ:RPXC) by 151.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 172,449 shares of the business services provider’s stock after buying an additional 103,859 shares during the quarter. Nationwide Fund Advisors owned 0.35% of RPX worth $2,290,000 as of its most recent SEC filing. Institutional investors and hedge funds own 89.69% of the company’s stock.

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About RPX

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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