RPX Corp (RPXC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of RPX Corp (NASDAQ:RPXC) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.33.

A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of RPX from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. TheStreet cut shares of RPX from a “b-” rating to a “c-” rating in a research note on Thursday, February 22nd. Finally, Barclays reaffirmed a “sell” rating and set a $14.00 price target on shares of RPX in a research note on Friday, January 5th.

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In other news, CFO David James Anderson sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $150,543.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.52% of the company’s stock.

Several hedge funds have recently made changes to their positions in RPXC. AMP Capital Investors Ltd purchased a new position in RPX in the fourth quarter valued at approximately $144,000. Martingale Asset Management L P purchased a new position in RPX in the fourth quarter valued at approximately $169,000. Capital Fund Management S.A. purchased a new position in RPX in the fourth quarter valued at approximately $171,000. SG Americas Securities LLC purchased a new position in RPX in the third quarter valued at approximately $172,000. Finally, Teacher Retirement System of Texas purchased a new position in RPX in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 89.69% of the company’s stock.

Shares of RPX stock opened at $10.88 on Friday. RPX has a one year low of $9.74 and a one year high of $15.15. The firm has a market cap of $540.41, a price-to-earnings ratio of 21.33 and a beta of 1.33.

RPX (NASDAQ:RPXC) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.09. RPX had a negative net margin of 23.95% and a positive return on equity of 6.17%. The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $81.20 million. During the same period in the prior year, the company posted $0.12 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. RPX’s payout ratio is currently 19.61%.

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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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