Short Interest in RPX Corp (RPXC) Increases By 42.6%

RPX Corp (NASDAQ:RPXC) saw a significant increase in short interest in January. As of January 12th, there was short interest totalling 921,621 shares, an increase of 42.6% from the December 29th total of 646,171 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 220,468 shares, the days-to-cover ratio is presently 4.2 days.

Shares of RPX (NASDAQ RPXC) opened at $13.88 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $681.98, a price-to-earnings ratio of 38.56 and a beta of 1.38. RPX has a 52-week low of $10.41 and a 52-week high of $15.15.

RPX (NASDAQ:RPXC) last announced its earnings results on Monday, October 30th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $82.70 million. RPX had a return on equity of 5.16% and a net margin of 5.53%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS.

In related news, CFO David James Anderson sold 5,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $12.80, for a total value of $64,000.00. Following the transaction, the chief financial officer now owns 26,981 shares of the company’s stock, valued at $345,356.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.52% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Peregrine Capital Management LLC boosted its position in RPX by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 954,538 shares of the business services provider’s stock valued at $12,829,000 after acquiring an additional 5,927 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in RPX by 6.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 250,773 shares of the business services provider’s stock valued at $3,371,000 after acquiring an additional 14,603 shares in the last quarter. Nationwide Fund Advisors boosted its position in RPX by 151.4% during the 3rd quarter. Nationwide Fund Advisors now owns 172,449 shares of the business services provider’s stock valued at $2,290,000 after acquiring an additional 103,859 shares in the last quarter. James Investment Research Inc. bought a new stake in RPX during the 4th quarter valued at $1,115,000. Finally, SG Americas Securities LLC bought a new stake in RPX during the 3rd quarter valued at $172,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

RPXC has been the topic of several research analyst reports. Zacks Investment Research cut RPX from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Barclays increased their price objective on RPX from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 31st. Robert W. Baird reissued a “buy” rating and issued a $15.00 price objective on shares of RPX in a research note on Wednesday, November 1st. Finally, BidaskClub cut RPX from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.25.

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About RPX

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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