Nationwide Fund Advisors Buys 103,859 Shares of RPX Corp (RPXC)
Nationwide Fund Advisors lifted its stake in RPX Corp (NASDAQ:RPXC) by 151.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,449 shares of the business services provider’s stock after buying an additional 103,859 shares during the quarter. Nationwide Fund Advisors owned about 0.35% of RPX worth $2,290,000 as of its most recent filing with the Securities & Exchange Commission.
Separately, Aperio Group LLC grew its position in shares of RPX by 8.7% during the second quarter. Aperio Group LLC now owns 39,587 shares of the business services provider’s stock worth $552,000 after purchasing an additional 3,162 shares in the last quarter. Institutional investors and hedge funds own 89.69% of the company’s stock.
Several analysts recently issued reports on the company. Robert W. Baird reiterated a “buy” rating and set a $15.00 target price on shares of RPX in a research report on Wednesday, November 1st. Zacks Investment Research cut RPX from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub cut RPX from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, Barclays increased their target price on RPX from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $14.00.
RPX Corp (NASDAQ RPXC) opened at $13.67 on Friday. The firm has a market capitalization of $682.97, a P/E ratio of 28.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.54 and a current ratio of 2.54. RPX Corp has a 1-year low of $10.41 and a 1-year high of $15.15.
RPX (NASDAQ:RPXC) last released its quarterly earnings results on Monday, October 30th. The business services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The business had revenue of $85.70 million during 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 firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. equities research analysts expect that RPX Corp will post 0.53 earnings per share for the current fiscal year.
The company also recently declared a Not Available dividend, which was paid on Tuesday, December 5th. Shareholders of record on Monday, November 20th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 17th. RPX’s dividend payout ratio is presently 13.89%.
In other RPX news, CFO David James Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was 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 in the company, valued at approximately $345,356.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.52% of the company’s stock.
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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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