Short Interest in RPX Corp (RPXC) Drops By 30.9%

RPX Corp (NASDAQ:RPXC) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 636,988 shares, a decline of 30.9% from the January 12th total of 921,621 shares. Based on an average trading volume of 482,222 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.3% of the shares of the company are sold short.

Several equities research analysts recently weighed in on RPXC shares. Barclays upped their price objective on shares of RPX from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, October 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $15.00 price objective on shares of RPX in a report on Wednesday, November 1st. Finally, BidaskClub downgraded shares of RPX from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.25.

Shares of RPX (RPXC) opened at $13.19 on Monday. RPX has a 1-year low of $10.41 and a 1-year high of $15.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.54 and a quick ratio of 2.54. The firm has a market cap of $653.25, a PE ratio of 36.64 and a beta of 1.28.

In other news, CFO David James Anderson sold 5,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $12.80, for a total transaction of $64,000.00. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 3.52% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Fund Management S.A. acquired a new stake in RPX in the 4th quarter valued at about $171,000. SG Americas Securities LLC acquired a new stake in RPX in the 3rd quarter valued at about $172,000. Teacher Retirement System of Texas acquired a new stake in RPX in the 4th quarter valued at about $207,000. Bailard Inc. acquired a new stake in RPX in the 4th quarter valued at about $335,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in RPX by 27.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 35,867 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 7,755 shares during the last quarter. 89.01% of the stock is owned by institutional investors.

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RPX 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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