RPX Corp (NASDAQ:RPXC) Stake Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of RPX Corp (NASDAQ:RPXC) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,387,800 shares of the business services provider’s stock after selling 83,444 shares during the quarter. Renaissance Technologies LLC owned about 6.84% of RPX worth $45,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RPXC. Nationwide Fund Advisors increased its holdings in shares of RPX by 151.4% during the third quarter. Nationwide Fund Advisors now owns 172,449 shares of the business services provider’s stock valued at $2,290,000 after acquiring an additional 103,859 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of RPX during the third quarter valued at about $172,000. Schwab Charles Investment Management Inc. increased its holdings in shares of RPX by 6.2% during the fourth 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 in the last quarter. James Investment Research Inc. acquired a new position in RPX in the 4th quarter worth approximately $1,115,000. Finally, Peregrine Capital Management LLC increased its holdings 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 worth $12,829,000 after buying an additional 5,927 shares during the period. Hedge funds and other institutional investors own 89.69% of the company’s stock.

NASDAQ:RPXC traded down $0.15 during midday trading on Friday, hitting $10.88. The company’s stock had a trading volume of 157,781 shares, compared to its average volume of 274,276. RPX Corp has a fifty-two week low of $9.74 and a fifty-two week high of $15.15. The company has a market cap of $542.91, a PE ratio of 21.33 and a beta of 1.33.

RPX (NASDAQ:RPXC) last issued its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $81.80 million for the quarter, compared to the consensus estimate of $81.20 million. During the same quarter in the prior year, the company earned $0.12 EPS. RPX’s quarterly revenue was up .0% on a year-over-year basis.

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

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

Several brokerages recently weighed in on RPXC. BidaskClub upgraded shares of RPX from a “sell” rating to a “hold” rating in a report on Saturday, March 24th. TheStreet downgraded shares of RPX from a “b-” rating to a “c-” rating in a report on Thursday, February 22nd. Finally, Barclays reiterated a “sell” rating and issued a $14.00 price target on shares of RPX in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.25.

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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.

Institutional Ownership by Quarter for RPX (NASDAQ:RPXC)

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