RPX Corp. (RPXC) Shares Up 2.2%
RPX Corp. (NASDAQ:RPXC)’s share price shot up 2.2% during trading on Wednesday . The stock 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 firms have issued reports on RPXC. Zacks Investment Research raised shares of RPX Corp. from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Saturday, August 6th. Barclays PLC reduced their price target 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 firm has a market capitalization of $537.72 million and a P/E ratio of 26.99. The stock has a 50-day moving average price of $10.04 and a 200-day moving average price of $10.25.
RPX Corp. (NASDAQ:RPXC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.18 EPS for the quarter, beating the consensus estimate 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. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, equities research analysts predict 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 firm’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $9.95, for a total transaction of $73,699.65. Following the completion of the sale, the executive vice president now owns 100,266 shares in the company, valued at approximately $997,646.70. The sale 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 the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $9.75, for a total value 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 large investors have modified their holdings of the stock. Matarin Capital Management LLC acquired a new stake in shares of RPX Corp. during the fourth quarter worth $2,593,000. Bank of Montreal Can raised its stake 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 during the period. Finally, Wells Fargo & Company MN raised its stake 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 during the period.
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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