RPX Corporation (RPXC) Receives $13.50 Consensus Target Price from Analysts
Shares of RPX Corporation (NASDAQ:RPXC) have received an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $13.50.
RPXC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, August 8th. BidaskClub downgraded shares of RPX Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th.
Shares of RPX Corporation (NASDAQ RPXC) traded up 0.55% during midday trading on Tuesday, reaching $12.87. 131,827 shares of the company were exchanged. The company has a market capitalization of $637.07 million, a P/E ratio of 32.09 and a beta of 1.42. The stock has a 50-day moving average price of $12.75 and a 200 day moving average price of $13.05. RPX Corporation has a 52-week low of $8.99 and a 52-week high of $15.15.
RPX Corporation (NASDAQ:RPXC) last issued 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 business had revenue of $80.40 million for the quarter, compared to analyst estimates of $81.27 million. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Equities research analysts expect that RPX Corporation will post $0.72 EPS for the current fiscal year.
In related news, CRO Steven S. Swank sold 2,340 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mallun Yen sold 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $12.92, for a total transaction 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. In the last ninety days, insiders sold 88,900 shares of company stock valued at $1,127,692. 3.52% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in RPXC. Victory Capital Management Inc. grew its position in shares of RPX Corporation by 43.9% in the 1st quarter. Victory Capital Management Inc. now owns 10,263 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 3,131 shares during the period. Hancock Holding Co. grew its position in shares of RPX Corporation by 13.7% in the 1st quarter. Hancock Holding Co. now owns 15,823 shares of the business services provider’s stock valued at $190,000 after acquiring an additional 1,907 shares during the period. UBS Asset Management Americas Inc. bought a new position in shares of RPX Corporation in the 1st quarter valued at about $211,000. Bogle Investment Management L P DE bought a new position in shares of RPX Corporation in the 1st quarter valued at about $215,000. Finally, KCG Holdings Inc. bought a new position in shares of RPX Corporation in the 1st quarter valued at about $221,000. 88.05% of the stock is owned by 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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