Robert H. Heath Sells 10,000 Shares of RPX Corporation (RPXC) Stock
RPX Corporation (NASDAQ:RPXC) EVP Robert H. Heath sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $12.79, for a total transaction of $127,900.00. Following the completion of the transaction, the executive vice president now owns 60,529 shares of the company’s stock, valued at approximately $774,165.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
RPX Corporation (RPXC) opened at 13.16 on Friday. The company’s 50 day moving average is $13.13 and its 200 day moving average is $12.89. RPX Corporation has a 52-week low of $8.99 and a 52-week high of $15.15. The firm has a market cap of $651.42 million, a P/E ratio of 32.82 and a beta of 1.42.
RPX Corporation (NASDAQ:RPXC) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $80.40 million for the quarter, compared to the consensus estimate of $81.27 million. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Equities research analysts forecast that RPX Corporation will post $0.72 EPS for the current fiscal year.
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RPXC has been the subject of several research analyst reports. Barclays PLC restated a “sell” rating and set a $11.00 price target on shares of RPX Corporation in a research report on Monday, May 15th. BidaskClub downgraded shares of RPX Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.50.
A number of hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in RPX Corporation by 43.9% in the first quarter. Victory Capital Management Inc. now owns 10,263 shares of the business services provider’s stock worth $123,000 after buying an additional 3,131 shares in the last quarter. Hancock Holding Co. increased its stake in RPX Corporation by 13.7% in the first quarter. Hancock Holding Co. now owns 15,823 shares of the business services provider’s stock worth $190,000 after buying an additional 1,907 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in RPX Corporation during the first quarter worth approximately $211,000. Bogle Investment Management L P DE bought a new stake in RPX Corporation during the first quarter worth approximately $215,000. Finally, KCG Holdings Inc. bought a new stake in RPX Corporation during the first quarter worth approximately $221,000. 88.05% of the stock is currently owned by hedge funds and other institutional investors.
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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