RPX Corporation (RPXC) EVP Sells $192,450.00 in Stock
RPX Corporation (NASDAQ:RPXC) EVP Robert H. Heath sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $12.83, for a total value of $192,450.00. Following the completion of the transaction, the executive vice president now owns 60,529 shares of the company’s stock, valued at approximately $776,587.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
RPX Corporation (RPXC) traded up 0.77% during trading on Friday, hitting $13.16. The stock had a trading volume of 238,734 shares. The company has a 50 day moving average of $13.13 and a 200-day moving average of $12.89. RPX Corporation has a 12-month low of $8.98 and a 12-month high of $15.15. The company has a market cap of $651.42 million, a P/E ratio of 32.82 and a beta of 1.39.
RPX Corporation (NASDAQ:RPXC) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company 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 firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. On average, equities analysts predict that RPX Corporation will post $0.72 EPS for the current year.
A number of hedge funds have recently made changes to their positions in RPXC. Victory Capital Management Inc. increased its stake in shares of RPX Corporation by 43.9% in the first quarter. Victory Capital Management Inc. now owns 10,263 shares of the business services provider’s stock worth $123,000 after buying an additional 3,131 shares in the last quarter. Hancock Holding Co. increased its stake in shares of RPX Corporation by 13.7% in the first quarter. Hancock Holding Co. now owns 15,823 shares of the business services provider’s stock worth $190,000 after buying an additional 1,907 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of RPX Corporation during the first quarter worth approximately $211,000. Bogle Investment Management L P DE purchased a new stake in shares of RPX Corporation during the first quarter worth approximately $215,000. Finally, KCG Holdings Inc. purchased a new stake in shares of RPX Corporation during the first quarter worth approximately $221,000. Hedge funds and other institutional investors own 88.05% of the company’s stock.
A number of analysts recently commented on the company. Barclays PLC lifted 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. BidaskClub cut RPX Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. RPX Corporation has a consensus rating of “Hold” and a consensus target price of $13.50.
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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