Legal & General Group Plc Sells 210 Shares of RPX Corporation (RPXC)
Legal & General Group Plc cut its position in RPX Corporation (NASDAQ:RPXC) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,293 shares of the business services provider’s stock after selling 210 shares during the period. Legal & General Group Plc’s holdings in RPX Corporation were worth $148,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Rice Hall James & Associates LLC bought a new stake in shares of RPX Corporation during the first quarter worth about $1,837,000. Alliancebernstein L.P. increased its stake in shares of RPX Corporation by 227.5% in the first quarter. Alliancebernstein L.P. now owns 184,750 shares of the business services provider’s stock worth $2,217,000 after buying an additional 128,340 shares during the period. Norges Bank bought a new stake in shares of RPX Corporation during the fourth quarter worth about $826,000. Oxford Asset Management increased its stake in shares of RPX Corporation by 24.2% in the first quarter. Oxford Asset Management now owns 344,911 shares of the business services provider’s stock worth $4,139,000 after buying an additional 67,096 shares during the period. Finally, Strs Ohio increased its stake in shares of RPX Corporation by 20,066.7% in the first quarter. Strs Ohio now owns 60,500 shares of the business services provider’s stock worth $726,000 after buying an additional 60,200 shares during the period. 89.45% of the stock is owned by institutional investors and hedge funds.
Shares of RPX Corporation (RPXC) traded up 0.89% during mid-day trading on Wednesday, hitting $12.51. The company had a trading volume of 37,449 shares. The company has a market cap of $619.25 million, a PE ratio of 31.20 and a beta of 1.39. The firm has a 50-day moving average of $13.53 and a 200-day moving average of $12.76. RPX Corporation has a 12 month low of $8.98 and a 12 month high of $15.15.
RPX Corporation (NASDAQ:RPXC) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $80.40 million during the quarter, compared to analyst estimates of $81.27 million. RPX Corporation had a return on equity of 5.51% and a net margin of 6.01%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, analysts expect that RPX Corporation will post $0.72 EPS for the current year.
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A number of analysts have issued reports on RPXC shares. Barclays PLC reaffirmed a “sell” rating and issued a $11.00 target price on shares of RPX Corporation in a research note on Monday, May 15th. TheStreet raised RPX Corporation from a “c” rating to a “b-” rating in a research note on Tuesday, May 2nd. Zacks Investment Research raised RPX Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. BidaskClub downgraded RPX Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Cowen and Company raised their price objective on RPX Corporation from $11.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.
In related news, CRO Steven S. Swank sold 2,340 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $14.00, for a total value of $32,760.00. Following the completion of the transaction, the executive now owns 1,857 shares of the company’s stock, valued at $25,998. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mallun Yen sold 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $12.92, for a total value of $129,200.00. Following the completion of the transaction, the insider now directly owns 157,560 shares of the company’s stock, valued at approximately $2,035,675.20. The disclosure for this sale can be found here. Insiders have sold 13,900 shares of company stock valued at $183,582 over the last 90 days. 3.52% of the stock is currently owned by insiders.
About RPX Corporation
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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