RPX Corporation (RPXC) CFO Sells $64,900.00 in Stock
RPX Corporation (NASDAQ:RPXC) CFO David James Anderson sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $12.98, for a total value of $64,900.00. Following the completion of the transaction, the chief financial officer now owns 12,756 shares in the company, valued at $165,572.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of RPX Corporation (RPXC) traded up $0.21 during trading on Friday, hitting $13.04. The stock had a trading volume of 177,850 shares, compared to its average volume of 190,288. The stock has a market capitalization of $644.34 million, a P/E ratio of 26.55 and a beta of 1.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.23 and a current ratio of 2.23.
RPX Corporation (NASDAQ:RPXC) last announced its quarterly earnings data on Monday, October 30th. The business services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $85.70 million for the quarter, compared to analyst estimates of $82.70 million. RPX Corporation had a return on equity of 5.22% and a net margin of 5.53%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. equities analysts anticipate that RPX Corporation will post 0.53 earnings per share for the current fiscal year.
The company also recently disclosed a Not Available dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Monday, November 20th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 17th.
A number of brokerages have weighed in on RPXC. Robert W. Baird restated a “buy” rating and issued a $15.00 target price on shares of RPX Corporation in a research note on Wednesday. Barclays PLC upped their target price on RPX Corporation from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday. Zacks Investment Research lowered RPX Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub lowered RPX Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Two investment 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. RPX Corporation presently has an average rating of “Hold” and an average price target of $14.00.
Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of RPX Corporation by 43.9% during the 1st quarter. Victory Capital Management Inc. now owns 10,263 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 3,131 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of RPX Corporation during the 1st quarter valued at about $211,000. KCG Holdings Inc. bought a new position in shares of RPX Corporation during the 1st quarter valued at about $221,000. Public Employees Retirement System of Ohio increased its position in shares of RPX Corporation by 16.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 27,622 shares of the business services provider’s stock valued at $331,000 after purchasing an additional 3,854 shares during the last quarter. Finally, American International Group Inc. increased its position in shares of RPX Corporation by 7.0% during the 1st quarter. American International Group Inc. now owns 30,567 shares of the business services provider’s stock valued at $367,000 after purchasing an additional 2,010 shares during the last quarter. Hedge funds and other institutional investors own 88.44% of the company’s stock.
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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