RPX Corp (NASDAQ:RPXC) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 636,988 shares, a decrease of 30.9% from the January 12th total of 921,621 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 482,222 shares, the days-to-cover ratio is currently 1.3 days.
In related news, CFO David James Anderson sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly 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.
Several institutional investors have recently modified their holdings of RPXC. AMP Capital Investors Ltd purchased a new stake in shares of RPX in the fourth quarter worth approximately $144,000. Martingale Asset Management L P purchased a new stake in shares of RPX in the fourth quarter worth approximately $169,000. Capital Fund Management S.A. purchased a new stake in shares of RPX in the fourth quarter worth approximately $171,000. SG Americas Securities LLC purchased a new stake in shares of RPX in the third quarter worth approximately $172,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of RPX in the fourth quarter worth approximately $207,000. 89.12% of the stock is owned by hedge funds and other institutional investors.
RPXC has been the topic of a number of research reports. Barclays reaffirmed a “sell” rating and set a $14.00 price target on shares of RPX in a research note on Friday, January 5th. BidaskClub downgraded RPX from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $15.00 price target on shares of RPX in a research note on Wednesday, November 1st. 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. The company currently has an average rating of “Hold” and an average target price of $14.25.
Shares of RPX (NASDAQ:RPXC) traded up $0.35 during trading on Wednesday, hitting $12.97. The stock had a trading volume of 196,593 shares, compared to its average volume of 330,774. The stock has a market capitalization of $637.90, a P/E ratio of 36.03 and a beta of 1.28. RPX has a 12-month low of $10.41 and a 12-month 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.
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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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