Short Interest in RPX Corp (RPXC) Drops By 47.4%

RPX Corp (NASDAQ:RPXC) was the recipient of a large decrease in short interest in December. As of December 29th, there was short interest totalling 646,171 shares, a decrease of 47.4% from the December 15th total of 1,228,341 shares. Based on an average daily trading volume, of 167,795 shares, the days-to-cover ratio is presently 3.9 days. Approximately 1.4% of the company’s shares are short sold.

Shares of RPX (RPXC) opened at $13.47 on Friday. The company has a market cap of $672.57, a price-to-earnings ratio of 37.42 and a beta of 1.38. 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.

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

Several research analysts have issued reports on the company. Barclays reaffirmed a “sell” rating and set a $14.00 price objective on shares of RPX in a report on Friday, January 5th. BidaskClub cut shares of 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 set a $15.00 target price on shares of RPX in a research report on Wednesday, November 1st. Finally, Zacks Investment Research cut shares of RPX from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. RPX has an average rating of “Hold” and a consensus price target of $14.25.

In other RPX news, CFO David James Anderson sold 5,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $12.80, for a total transaction of $64,000.00. Following the transaction, the chief financial officer now owns 26,981 shares of the company’s stock, valued at approximately $345,356.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.52% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of RPX during the 3rd quarter valued at $172,000. Nationwide Fund Advisors raised its position in shares of RPX by 43.6% during the 2nd quarter. Nationwide Fund Advisors now owns 68,590 shares of the business services provider’s stock valued at $957,000 after acquiring an additional 20,832 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of RPX by 6.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 250,773 shares of the business services provider’s stock valued at $3,371,000 after acquiring an additional 14,603 shares during the last quarter. Institutional investors own 89.69% of the company’s stock.

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RPX Company Profile

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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