RPX (RPXC) Trading Up 11.3%
RPX Corp (NASDAQ:RPXC) shares were up 11.3% on Thursday . The company traded as high as $14.99 and last traded at $14.23. Approximately 1,410,200 shares traded hands during mid-day trading, an increase of 330% from the average daily volume of 327,728 shares. The stock had previously closed at $12.79.
A number of research analysts have weighed in on RPXC shares. BidaskClub downgraded shares of RPX from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of RPX from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Robert W. Baird reiterated a “buy” rating and issued a $15.00 price objective on shares of RPX in a research report on Wednesday, November 1st. Finally, Barclays upped their price objective on shares of RPX from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $14.00.
The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.16. The stock has a market cap of $633.44, a PE ratio of 26.10 and a beta of 1.38.
RPX (NASDAQ:RPXC) last released its quarterly earnings results on Monday, October 30th. The business services provider reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. RPX had a net margin of 5.53% and a return on equity of 5.16%. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $82.70 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. research analysts anticipate that RPX Corp will post 0.53 earnings per share for the current year.
The business also recently declared a Not Available dividend, which was paid on Tuesday, December 5th. Investors of record on Monday, November 20th were given a dividend of $0.05 per share. The ex-dividend date was Friday, November 17th. RPX’s dividend payout ratio (DPR) is presently 13.89%.
In related news, CFO David James Anderson sold 5,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $12.80, for a total transaction of $64,000.00. Following the completion of the transaction, the chief financial officer now owns 26,981 shares in the company, valued at approximately $345,356.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.52% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in RPXC. Russell Investments Group Ltd. grew its stake in RPX by 2,073.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 398,444 shares of the business services provider’s stock valued at $5,559,000 after acquiring an additional 380,113 shares in the last quarter. Nationwide Fund Advisors grew its stake in RPX by 151.4% during the 3rd quarter. Nationwide Fund Advisors now owns 172,449 shares of the business services provider’s stock valued at $2,290,000 after acquiring an additional 103,859 shares in the last quarter. SG Americas Securities LLC purchased a new stake in RPX during the 3rd quarter valued at about $172,000. Schwab Charles Investment Management Inc. grew its stake in RPX by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 219,834 shares of the business services provider’s stock valued at $2,639,000 after acquiring an additional 11,904 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in RPX by 13.0% during the 1st quarter. California Public Employees Retirement System now owns 57,300 shares of the business services provider’s stock valued at $688,000 after acquiring an additional 6,600 shares in the last quarter. 89.69% of the stock is owned by institutional investors.
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RPX Company Profile
RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.
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