RPX Corp. (RPXC) Stake Boosted by Acrospire Investment Management LLC
Acrospire Investment Management LLC increased its stake in RPX Corp. (NASDAQ:RPXC) by 30.0% during the second quarter, Holdings Channel reports. The firm owned 11,269 shares of the company’s stock after buying an additional 2,600 shares during the period. Acrospire Investment Management LLC’s holdings in RPX Corp. were worth $103,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in RPXC. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in RPX Corp. during the second quarter valued at $119,000. Boothbay Fund Management LLC boosted its position in RPX Corp. by 6.5% in the first quarter. Boothbay Fund Management LLC now owns 13,386 shares of the company’s stock valued at $151,000 after buying an additional 813 shares during the period. Fox Run Management L.L.C. purchased a new position in RPX Corp. during the second quarter valued at approximately $156,000. Princeton Alpha Management LP boosted its position in RPX Corp. by 13.6% in the second quarter. Princeton Alpha Management LP now owns 23,781 shares of the company’s stock valued at $218,000 after buying an additional 2,843 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in RPX Corp. by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 41,449 shares of the company’s stock valued at $380,000 after buying an additional 567 shares during the period. Institutional investors own 88.07% of the company’s stock.
RPX Corp. (NASDAQ:RPXC) traded up 1.07% during midday trading on Wednesday, hitting $10.38. The stock had a trading volume of 127,309 shares. RPX Corp. has a 1-year low of $8.60 and a 1-year high of $15.41. The company has a market cap of $514.42 million, a price-to-earnings ratio of 25.82 and a beta of 1.27. The company’s 50 day moving average is $10.61 and its 200 day moving average is $10.27.
RPX Corp. (NASDAQ:RPXC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. RPX Corp. had a net margin of 7.16% and a return on equity of 4.95%. The company earned $83.10 million during the quarter, compared to the consensus estimate of $82.14 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities analysts anticipate that RPX Corp. will post $0.75 earnings per share for the current fiscal year.
RPXC has been the subject of several recent research reports. Barclays PLC cut their price target on RPX Corp. from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, July 7th. Zacks Investment Research raised RPX Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th.
In other RPX Corp. news, insider Mallun Yen sold 8,155 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $10.63, for a total transaction of $86,687.65. Following the completion of the transaction, the insider now directly owns 109,642 shares in the company, valued at $1,165,494.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert H. Heath sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $10.60, for a total transaction of $31,800.00. Following the transaction, the chief financial officer now owns 79,437 shares of the company’s stock, valued at $842,032.20. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by insiders.
RPX Corp. Company Profile
RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients.
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