RPX (NASDAQ:RPXC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also issued reports about the company. Robert W. Baird reaffirmed a “buy” rating and set a $15.00 target price on shares of RPX in a report on Wednesday, November 1st. Zacks Investment Research lowered RPX from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Barclays upped their target price on RPX from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. RPX has a consensus rating of “Hold” and a consensus target price of $14.00.

RPX (NASDAQ:RPXC) opened at $14.23 on Tuesday. The company has a market capitalization of $633.44, a P/E ratio of 26.10 and a beta of 1.38. RPX has a fifty-two week low of $10.41 and a fifty-two week high of $15.15. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.16.

RPX (NASDAQ:RPXC) last posted its earnings results on Monday, October 30th. The business services provider reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The company had revenue of $85.70 million during the quarter, compared to analyst estimates of $82.70 million. RPX had a return on equity of 5.16% and a net margin of 5.53%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. sell-side analysts predict that RPX will post 0.53 EPS for the current fiscal year.

In other news, CFO David James Anderson sold 5,000 shares of the business’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 directly owns 26,981 shares in the company, valued at $345,356.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.52% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in RPX in the third quarter worth approximately $172,000. Nationwide Fund Advisors lifted its position in RPX by 151.4% in the third quarter. Nationwide Fund Advisors now owns 172,449 shares of the business services provider’s stock worth $2,290,000 after purchasing an additional 103,859 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in RPX by 3.5% in the second quarter. Pacific Ridge Capital Partners LLC now owns 77,140 shares of the business services provider’s stock worth $1,076,000 after purchasing an additional 2,610 shares during the period. Russell Investments Group Ltd. lifted its position in shares of RPX by 2,073.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 398,444 shares of the business services provider’s stock valued at $5,559,000 after acquiring an additional 380,113 shares during the last quarter. Finally, Aperio Group LLC lifted its position in shares of RPX by 8.7% during the 2nd quarter. Aperio Group LLC now owns 39,587 shares of the business services provider’s stock valued at $552,000 after acquiring an additional 3,162 shares during the last quarter. Hedge funds and other institutional investors own 89.69% 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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