RPX Corp. (RPXC) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “RPX Corporation is a provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services. The Company provides a subscription-based patent risk management solution where by acquiring patents it mitigates and manages patent risk. It also provides to its clients access to its proprietary patent market intelligence and data. Its clientele compromise companies that design, make or sell technology-based products and services as well as companies that use technology in their businesses. RPX Corporation is based in San Francisco, California. “
Separately, Barclays PLC dropped their price objective on shares of RPX Corp. from $10.00 to $9.00 and set an underweight rating on the stock in a report on Thursday, July 7th.
RPX Corp. (NASDAQ:RPXC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The company had revenue of $83.10 million for the quarter, compared to analysts’ expectations of $82.14 million. RPX Corp. had a net margin of 7.16% and a return on equity of 4.95%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share.
In other news, insider Mallun Yen sold 8,155 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $10.63, for a total transaction of $86,687.65. Following the transaction, the insider now directly owns 109,642 shares in the company, valued at approximately $1,165,494.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert H. Heath sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $10.60, for a total transaction of $31,800.00. Following the transaction, the chief financial officer now owns 79,437 shares in the company, valued at $842,032.20. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RPXC. Emerald Acquisition Ltd. purchased a new position in RPX Corp. during the second quarter valued at $3,630,000. Renaissance Technologies LLC raised its position in RPX Corp. by 27.5% in the first quarter. Renaissance Technologies LLC now owns 1,707,500 shares of the company’s stock valued at $19,226,000 after buying an additional 368,700 shares in the last quarter. Bank of Montreal Can purchased a new position in RPX Corp. during the second quarter valued at $3,247,000. Thompson Siegel & Walmsley LLC raised its position in RPX Corp. by 21.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,139,263 shares of the company’s stock valued at $10,447,000 after buying an additional 198,683 shares in the last quarter. Finally, Royal Bank of Canada raised its position in RPX Corp. by 1,267.9% in the second quarter. Royal Bank of Canada now owns 191,500 shares of the company’s stock valued at $1,756,000 after buying an additional 177,500 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.
About RPX Corp.
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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