RPX (RPXC) Stock Price Down 0% on Insider Selling

Shares of RPX Corp (NASDAQ:RPXC) dropped 0% on Friday following insider selling activity. The company traded as low as $10.50 and last traded at $10.58. Approximately 1,835,500 shares changed hands during trading, an increase of 406% from the average daily volume of 362,686 shares. The stock had previously closed at $10.58.

Specifically, CFO David James Anderson sold 5,000 shares of RPX stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.94, for a total transaction of $64,700.00. Following the transaction, the chief financial officer now directly owns 11,634 shares of the company’s stock, valued at $150,543.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.52% of the company’s stock.

RPXC has been the topic of several research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $15.00 price objective on shares of RPX in a research report on Wednesday, November 1st. Barclays reaffirmed a “sell” rating and issued a $14.00 price objective on shares of RPX in a research report on Friday, January 5th. Finally, BidaskClub cut shares of RPX from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. 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. The stock currently has an average rating of “Hold” and an average target price of $14.25.

The firm has a market cap of $643.84, a PE ratio of 22.41 and a beta of 1.28. 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 posted its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $81.20 million. RPX had a negative net margin of 23.95% and a positive return on equity of 5.91%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be given a $0.05 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.89%. RPX’s dividend payout ratio is currently -3.13%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in RPX by 12.0% in the 4th quarter. First Trust Advisors LP now owns 44,310 shares of the business services provider’s stock valued at $596,000 after buying an additional 4,732 shares during the last quarter. Peregrine Capital Management LLC increased its stake in RPX by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 954,538 shares of the business services provider’s stock valued at $12,829,000 after buying an additional 5,927 shares during the last quarter. Two Sigma Investments LP increased its stake in RPX by 16.3% in the 4th quarter. Two Sigma Investments LP now owns 44,400 shares of the business services provider’s stock valued at $597,000 after buying an additional 6,214 shares during the last quarter. Teachers Advisors LLC increased its stake in RPX by 7.3% in the 4th quarter. Teachers Advisors LLC now owns 93,128 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 6,336 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in RPX by 27.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 35,867 shares of the business services provider’s stock valued at $482,000 after buying an additional 7,755 shares during the last quarter. 89.44% of the stock is currently owned by institutional investors and hedge funds.

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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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