BidaskClub Downgrades RPX Corporation (RPXC) to Strong Sell
BidaskClub cut shares of RPX Corporation (NASDAQ:RPXC) from a sell rating to a strong sell rating in a research note published on Tuesday morning.
A number of other research analysts have also recently commented on the company. Barclays PLC restated a sell rating and set a $11.00 price target on shares of RPX Corporation in a research note on Monday, May 15th. TheStreet upgraded RPX Corporation from a c rating to a b- rating in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded RPX Corporation from a sell rating to a hold rating in a research note on Wednesday, April 19th. Finally, Cowen and Company upped their price target on RPX Corporation from $11.00 to $14.00 and gave the stock a market perform rating in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $13.50.
RPX Corporation (NASDAQ RPXC) traded up 0.16% during trading on Tuesday, hitting $12.36. The stock had a trading volume of 264,085 shares. The company has a market cap of $611.82 million, a price-to-earnings ratio of 30.82 and a beta of 1.39. RPX Corporation has a 52-week low of $8.99 and a 52-week high of $15.15. The firm’s 50-day moving average price is $13.61 and its 200-day moving average price is $12.72.
RPX Corporation (NASDAQ:RPXC) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. RPX Corporation had a return on equity of 5.51% and a net margin of 6.01%. The company had revenue of $80.40 million for the quarter, compared to analysts’ expectations of $81.27 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. Analysts predict that RPX Corporation will post $0.72 EPS for the current fiscal year.
In other news, CEO Trevor Campion sold 39,256 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $13.79, for a total transaction of $541,340.24. Following the sale, the chief executive officer now owns 25,571 shares of the company’s stock, valued at $352,624.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mallun Yen sold 10,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $12.92, for a total value of $129,200.00. Following the sale, the insider now directly owns 157,560 shares in the company, valued at approximately $2,035,675.20. The disclosure for this sale can be found here. Insiders have sold 63,156 shares of company stock worth $865,322 in the last ninety days. Corporate insiders own 3.52% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in RPX Corporation during the fourth quarter worth $826,000. Peregrine Capital Management LLC raised its stake in RPX Corporation by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 918,787 shares of the business services provider’s stock worth $11,007,000 after buying an additional 63,160 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in RPX Corporation during the first quarter worth $244,000. Rice Hall James & Associates LLC bought a new stake in RPX Corporation during the first quarter worth $1,837,000. Finally, Nationwide Fund Advisors raised its stake in RPX Corporation by 14.2% in the first quarter. Nationwide Fund Advisors now owns 47,758 shares of the business services provider’s stock worth $573,000 after buying an additional 5,927 shares in the last quarter. 90.38% of the stock is currently owned by institutional investors and hedge funds.
About RPX Corporation
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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