Ameriprise Financial Inc. cut its stake in shares of RPX Corp. (NASDAQ:RPXC) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 805,800 shares of the company’s stock after selling 93,491 shares during the period. Ameriprise Financial Inc. owned 1.58% of RPX Corp. worth $7,389,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Babson Capital Management LLC increased its stake in shares of RPX Corp. by 23.9% in the first quarter. Babson Capital Management LLC now owns 44,100 shares of the company’s stock valued at $497,000 after buying an additional 8,500 shares during the period. Renaissance Technologies LLC increased its stake in shares of RPX Corp. by 27.5% in the first quarter. Renaissance Technologies LLC now owns 1,707,500 shares of the company’s stock valued at $19,226,000 after buying an additional 368,700 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of RPX Corp. by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 196,129 shares of the company’s stock valued at $2,208,000 after buying an additional 72,926 shares during the period. Isthmus Partners LLC increased its stake in shares of RPX Corp. by 16.7% in the second quarter. Isthmus Partners LLC now owns 51,715 shares of the company’s stock valued at $474,000 after buying an additional 7,383 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of RPX Corp. during the second quarter valued at about $156,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Shares of RPX Corp. (NASDAQ:RPXC) traded down 1.23% on Friday, hitting $10.46. 322,426 shares of the stock traded hands. The stock has a market cap of $518.39 million, a price-to-earnings ratio of 26.02 and a beta of 1.10. RPX Corp. has a 52 week low of $8.60 and a 52 week high of $15.41. The stock has a 50 day moving average price of $10.50 and a 200-day moving average price of $10.26.
RPX Corp. (NASDAQ:RPXC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.05. RPX Corp. had a net margin of 7.16% and a return on equity of 4.95%. The business earned $83.10 million during the quarter, compared to the consensus estimate of $82.14 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts forecast that RPX Corp. will post $0.75 EPS for the current year.
RPXC has been the subject of several research reports. Zacks Investment Research upgraded shares of RPX Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Saturday, August 6th. Barclays PLC lowered their target price on shares of RPX Corp. from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, July 7th.
In other RPX Corp. news, CFO Robert H. Heath sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $10.60, for a total value of $31,800.00. Following the transaction, the chief financial officer now directly owns 79,437 shares in the company, valued at $842,032.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mallun Yen sold 8,155 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $10.63, for a total transaction of $86,687.65. Following the completion of the transaction, the insider now owns 109,642 shares in the company, valued at $1,165,494.46. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by company insiders.
About RPX Corp.
RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients.
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