RPX Corporation (NASDAQ:RPXC) has received an average rating of “Hold” from the six analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.50.
Several equities analysts have recently issued reports on RPXC shares. Barclays PLC boosted their price objective on RPX Corporation from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Thursday, May 25th. Zacks Investment Research upgraded RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, August 8th. Finally, BidaskClub downgraded RPX Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th.
RPX Corporation (NASDAQ:RPXC) opened at 12.73 on Tuesday. The stock’s 50 day moving average price is $12.78 and its 200-day moving average price is $13.04. RPX Corporation has a 52 week low of $8.99 and a 52 week high of $15.15. The stock has a market capitalization of $630.14 million, a P/E ratio of 31.75 and a beta of 1.42.
RPX Corporation (NASDAQ:RPXC) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $80.40 million during the quarter, compared to the consensus estimate of $81.27 million. RPX Corporation had a return on equity of 5.51% and a net margin of 6.01%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Equities research analysts expect that RPX Corporation will post $0.72 earnings per share for the current year.
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In related news, Director Shelby W. Bonnie sold 34,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.51, for a total transaction of $425,340.00. Following the sale, the director now owns 64,757 shares of the company’s stock, valued at $810,110.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Steven S. Swank sold 2,340 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $14.00, for a total value of $32,760.00. Following the sale, the executive now directly owns 1,857 shares in the company, valued at approximately $25,998. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,900 shares of company stock worth $1,127,692. 3.52% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Trexquant Investment LP raised its holdings in RPX Corporation by 2.5% during the first quarter. Trexquant Investment LP now owns 44,787 shares of the business services provider’s stock worth $537,000 after purchasing an additional 1,074 shares in the last quarter. Hancock Holding Co. raised its holdings in RPX Corporation by 13.7% during the first quarter. Hancock Holding Co. now owns 15,823 shares of the business services provider’s stock worth $190,000 after purchasing an additional 1,907 shares in the last quarter. Karp Capital Management Corp bought a new stake in RPX Corporation during the first quarter worth approximately $437,000. Metropolitan Life Insurance Co. NY raised its holdings in RPX Corporation by 6.0% during the first quarter. Metropolitan Life Insurance Co. NY now owns 37,173 shares of the business services provider’s stock worth $446,000 after purchasing an additional 2,108 shares in the last quarter. Finally, Isthmus Partners LLC raised its holdings in RPX Corporation by 2.2% during the first quarter. Isthmus Partners LLC now owns 66,108 shares of the business services provider’s stock worth $793,000 after purchasing an additional 1,434 shares in the last quarter. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
RPX Corporation 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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