RPX Corporation (NASDAQ:RPXC) Insider Sells $129,200.00 in Stock
RPX Corporation (NASDAQ:RPXC) insider Mallun Yen sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $12.92, for a total transaction of $129,200.00. Following the completion of the sale, the insider now owns 157,560 shares in the company, valued at approximately $2,035,675.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of RPX Corporation (NASDAQ:RPXC) traded down 1.16% during midday trading on Tuesday, reaching $12.81. 180,928 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $13.76 and its 200 day moving average price is $12.65. RPX Corporation has a 12-month low of $8.99 and a 12-month high of $15.15. The company has a market cap of $629.50 million, a price-to-earnings ratio of 31.95 and a beta of 1.39.
RPX Corporation (NASDAQ:RPXC) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $80.40 million for the quarter, compared to the consensus estimate of $81.27 million. RPX Corporation had a net margin of 6.01% and a return on equity of 5.56%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Equities analysts anticipate that RPX Corporation will post $0.72 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in RPX Corporation during the fourth quarter worth approximately $826,000. Peregrine Capital Management LLC increased its position in shares of 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 during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of RPX Corporation during the first quarter worth about $244,000. Rice Hall James & Associates LLC purchased a new position in shares of RPX Corporation during the first quarter worth about $1,837,000. Finally, Nationwide Fund Advisors increased its position in shares of 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 during the last quarter. 90.38% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on RPXC. BidaskClub cut shares of RPX Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday. Cowen and Company upped their price objective on shares of RPX Corporation from $11.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, May 3rd. Barclays PLC upped their price objective on shares of RPX Corporation from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Thursday, May 25th. Finally, TheStreet upgraded shares of RPX Corporation from a “c” rating to a “b-” rating in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target 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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