Bank of New York Mellon Corp reduced its stake in shares of RPX Corp. (NASDAQ:RPXC) by 31.3% during the second quarter, Holdings Channel reports. The institutional investor owned 214,732 shares of the company’s stock after selling 97,908 shares during the period. Bank of New York Mellon Corp owned 0.42% of RPX Corp. worth $1,970,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC raised its position in RPX Corp. by 6.5% in the first quarter. Boothbay Fund Management LLC now owns 13,386 shares of the company’s stock valued at $151,000 after buying an additional 813 shares in the last quarter. Fox Run Management L.L.C. bought a new position in RPX Corp. during the second quarter valued at $156,000. Babson Capital Management LLC raised its position in 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 in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in RPX Corp. during the first quarter valued at $593,000. Finally, BlackRock Group LTD raised its position in RPX Corp. by 5.1% in the first quarter. BlackRock Group LTD now owns 143,722 shares of the company’s stock valued at $1,618,000 after buying an additional 6,931 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Shares of RPX Corp. (NASDAQ:RPXC) traded down 0.38% on Friday, hitting $10.55. 194,720 shares of the stock traded hands. RPX Corp. has a 52 week low of $8.60 and a 52 week high of $15.41. The firm has a market capitalization of $522.85 million, a PE ratio of 26.24 and a beta of 1.10. The firm’s 50 day moving average is $10.51 and its 200 day moving average is $10.26.
RPX Corp. (NASDAQ:RPXC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.18 earnings per share for the quarter, topping the 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 had revenue of $83.10 million for the quarter, compared to analyst estimates of $82.14 million. During the same quarter last year, the firm earned $0.20 EPS. RPX Corp.’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, analysts expect that RPX Corp. will post $0.75 EPS for the current fiscal year.
Several research firms have weighed in on RPXC. Zacks Investment Research upgraded shares of RPX Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Barclays PLC dropped their price target on shares of RPX Corp. from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, July 7th.
In related news, insider Mallun Yen sold 8,155 shares of RPX Corp. stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $10.63, for a total transaction of $86,687.65. Following the transaction, the insider now owns 109,642 shares of the company’s stock, valued at approximately $1,165,494.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert H. Heath sold 3,000 shares of RPX Corp. stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $10.60, for a total transaction of $31,800.00. Following the completion of the transaction, the chief financial officer now directly owns 79,437 shares in the company, valued at approximately $842,032.20. The disclosure for this sale can be found here. Corporate insiders own 6.89% of the company’s stock.
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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