RPX Corp. (RPXC) Stock Price Down 1.5%
RPX Corp. (NASDAQ:RPXC)’s share price fell 1.5% during trading on Thursday . The company traded as low as $10.68 and last traded at $10.69, with a volume of 180,041 shares traded. The stock had previously closed at $10.85.
A number of research firms have recently commented on RPXC. Zacks Investment Research raised RPX Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Barclays PLC lowered their target price on RPX Corp. from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, July 7th.
The stock has a 50-day moving average price of $10.15 and a 200 day moving average price of $10.26. The stock has a market capitalization of $529.79 million and a price-to-earnings ratio of 26.59.
RPX Corp. (NASDAQ:RPXC) last released its earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. The firm earned $83.10 million during the quarter, compared to analysts’ expectations of $82.14 million. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. Equities analysts forecast that RPX Corp. will post $0.75 earnings per share for the current year.
In related news, Director Gilbert Samuel Palter purchased 100,000 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was purchased at an average cost of $9.77 per share, with a total value of $977,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mallun Yen sold 7,407 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $9.95, for a total value of $73,699.65. Following the completion of the transaction, the executive vice president now directly owns 100,266 shares of the company’s stock, valued at $997,646.70. The disclosure for this sale can be found here.
Several institutional investors recently bought and sold shares of RPXC. Wells Fargo & Company MN raised its position 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 during the last quarter. Bank of Montreal Can raised its position 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 during the last quarter. Finally, Matarin Capital Management LLC bought a new position in RPX Corp. during the fourth quarter worth approximately $2,593,000.
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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