Shares of RPX Corp (NASDAQ:RPXC) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.33.
A number of research analysts recently weighed in on the stock. Barclays restated a “sell” rating and set a $14.00 price objective on shares of RPX in a research report on Friday, January 5th. BidaskClub downgraded shares of RPX from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, TheStreet downgraded shares of RPX from a “b-” rating to a “c-” rating in a research report on Thursday, February 22nd.
RPX (RPXC) opened at $10.93 on Tuesday. The firm has a market cap of $544.90, a P/E ratio of -6.83 and a beta of 1.51. RPX has a 52-week low of $9.74 and a 52-week high of $15.15.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.83%. RPX’s payout ratio is presently -3.13%.
In other RPX news, CFO David James Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.94, for a total value of $64,700.00. Following the transaction, the chief financial officer now directly owns 11,634 shares in the company, valued at $150,543.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.52% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners increased its stake in shares of RPX by 9.3% in the fourth quarter. Boston Partners now owns 2,121,334 shares of the business services provider’s stock worth $28,510,000 after purchasing an additional 180,911 shares in the last quarter. Peregrine Capital Management LLC increased its stake in shares of RPX by 0.6% in the fourth quarter. Peregrine Capital Management LLC now owns 954,538 shares of the business services provider’s stock worth $12,829,000 after purchasing an additional 5,927 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of RPX by 19.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 581,850 shares of the business services provider’s stock worth $7,820,000 after purchasing an additional 93,203 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of RPX by 4.9% in the fourth quarter. Wells Fargo & Company MN now owns 373,021 shares of the business services provider’s stock worth $5,013,000 after purchasing an additional 17,521 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of RPX by 54.6% in the fourth quarter. Bank of New York Mellon Corp now owns 369,471 shares of the business services provider’s stock worth $4,966,000 after purchasing an additional 130,497 shares in the last quarter. 89.69% of the stock is owned by hedge funds and other 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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