RPX Corp. (RPXC) Shares Down 2.9%
RPX Corp. (NASDAQ:RPXC) shares dropped 2.9% during mid-day trading on Thursday . The company 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.
RPXC has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of RPX Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Barclays PLC dropped their price objective on shares of RPX Corp. from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Thursday, July 7th.
The company has a market capitalization of $555.25 million and a PE ratio of 27.06. The firm has a 50-day moving average of $9.64 and a 200-day moving average of $10.25.
RPX Corp. (NASDAQ:RPXC) last announced 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. During the same quarter in the previous year, the company earned $0.20 EPS. The business had revenue of $83.10 million for the quarter, compared to analyst estimates of $82.14 million. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities analysts expect that RPX Corp. will post $0.75 earnings per share for the current fiscal year.
In other RPX Corp. news, EVP Mallun Yen sold 7,407 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $9.95, for a total transaction of $73,699.65. Following the transaction, the executive vice president now owns 100,266 shares in the company, valued at approximately $997,646.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Steven S. Swank sold 4,875 shares of the 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 transaction, the senior vice president now owns 1,560 shares in the company, valued at approximately $15,210. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of 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 during the last quarter. GSA Capital Partners LLP raised 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 valued at $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 valued at about $2,593,000. Bank of Montreal Can raised 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 valued at $3,187,000 after buying an additional 168,612 shares in the last quarter. Finally, Wells Fargo & Company MN raised 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 valued at $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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