RPX Corp. (RPXC) Trading 2.5% Higher
RPX Corp. (NASDAQ:RPXC)’s share price traded up 2.5% during trading on Thursday . The company traded as high as $10.18 and last traded at $10.11, with a volume of 119,776 shares. The stock had previously closed at $9.86.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of RPX Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Barclays PLC cut their target price on shares of RPX Corp. from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, July 7th.
The stock has a 50 day moving average price of $9.59 and a 200-day moving average price of $10.27. The company has a market capitalization of $513.17 million and a P/E ratio of 21.58.
RPX Corp. (NASDAQ:RPXC) last announced its earnings results on Tuesday, May 3rd. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. During the same period in the prior year, the firm posted $0.38 earnings per share. The company earned $79.70 million during the quarter, compared to the consensus estimate of $78.97 million. The company’s revenue was down 4.3% on a year-over-year basis. Analysts expect that RPX Corp. will post $0.73 earnings per share for the current year.
In other RPX Corp. news, Director Gilbert Samuel Palter purchased 100,000 shares of the stock in a transaction dated Friday, May 27th. The stock was bought at an average price of $9.77 per share, for a total transaction of $977,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Steven S. Swank sold 4,875 shares of RPX Corp. stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $9.75, for a total transaction of $47,531.25. Following the sale, the senior vice president now 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 modified their holdings of the stock. Boston Partners boosted its position in shares of RPX Corp. by 5.3% in the fourth quarter. Boston Partners now owns 1,767,515 shares of the company’s stock worth $19,443,000 after buying an additional 88,484 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of 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. Robeco Institutional Asset Management B.V. boosted its position in shares of RPX Corp. by 117.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 409,237 shares of the company’s stock worth $4,502,000 after buying an additional 221,459 shares in the last quarter. Seizert Capital Partners LLC boosted its position in shares of RPX Corp. by 16.4% in the fourth quarter. Seizert Capital Partners LLC now owns 331,015 shares of the company’s stock worth $3,641,000 after buying an additional 46,723 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of 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.
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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