RPX Corp. (RPXC) Trading Up 2.2%
RPX Corp. (NASDAQ:RPXC) shares were up 2.2% during trading on Wednesday . The company traded as high as $10.84 and last traded at $10.83, with a volume of 251,694 shares changing hands. The stock had previously closed at $10.60.
A number of research analysts recently commented on RPXC shares. Zacks Investment Research downgraded shares of RPX Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Barclays PLC lowered their price target on shares of 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 market capitalization of $529.79 million and a price-to-earnings ratio of 26.59. The stock has a 50 day moving average of $10.15 and a 200 day moving average of $10.26.
RPX Corp. (NASDAQ:RPXC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The firm earned $83.10 million during the quarter, compared to analysts’ expectations of $82.14 million. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. On average, analysts forecast that RPX Corp. will post $0.75 EPS for the current year.
In other RPX Corp. news, EVP Mallun Yen sold 7,407 shares of RPX Corp. stock in a transaction on Tuesday, May 31st. The shares were 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 owns 100,266 shares of the company’s stock, valued at $997,646.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven S. Swank sold 4,875 shares of RPX Corp. stock in a transaction on Friday, May 27th. The shares were sold at an average price of $9.75, for a total transaction of $47,531.25. Following the completion of the transaction, the senior vice president now directly owns 1,560 shares of the company’s stock, valued at approximately $15,210. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in RPXC. Matarin Capital Management LLC purchased a new position in RPX Corp. during the fourth quarter worth $2,593,000. Bank of Montreal Can boosted 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 boosted 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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