RPX Corp. (RPXC) Shares Down 2.9%
RPX Corp. (NASDAQ:RPXC)’s share price fell 2.9% during trading on Thursday . The stock traded as low as $10.78 and last traded at $10.98, with a volume of 263,416 shares changing hands. The stock had previously closed at $11.31.
Several brokerages have recently commented on RPXC. Zacks Investment Research upgraded RPX Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 6th. Barclays PLC reduced their price target on RPX Corp. from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, July 7th.
The company has a market cap of $564.44 million and a price-to-earnings ratio of 27.51. The stock has a 50-day moving average of $9.73 and a 200-day moving average of $10.26.
RPX Corp. (NASDAQ:RPXC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.05. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business earned $83.10 million during the quarter, compared to analysts’ expectations of $82.14 million. RPX Corp.’s revenue was up 22.9% on a year-over-year basis. Equities research analysts predict that RPX Corp. will post $0.75 earnings per share for the current year.
In other news, SVP Steven S. Swank sold 4,875 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $9.75, for a total value of $47,531.25. Following the transaction, the senior vice president now directly owns 1,560 shares in the company, valued at $15,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert Samuel Palter acquired 100,000 shares of the stock in a transaction dated Friday, May 27th. The stock was acquired at an average price of $9.77 per share, for a total transaction of $977,000.00. The disclosure for this purchase can be found here.
Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in RPX Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 100,623 shares of the company’s stock worth $1,107,000 after buying an additional 1,800 shares in the last quarter. GSA Capital Partners LLP increased its stake in RPX Corp. by 66.1% in the fourth quarter. GSA Capital Partners LLP now owns 118,795 shares of the company’s stock worth $1,307,000 after buying an additional 47,267 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in RPX Corp. during the fourth quarter worth approximately $2,593,000. Bank of Montreal Can increased its stake in RPX Corp. by 139.2% in the fourth quarter. Bank of Montreal Can now owns 289,711 shares of the company’s stock worth $3,187,000 after buying an additional 168,612 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in RPX Corp. by 14.8% in the fourth quarter. Wells Fargo & Company MN now owns 1,012,182 shares of the company’s stock worth $11,134,000 after buying an additional 130,660 shares in the last quarter.
RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients.
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