Bank of New York Mellon Corp Has $4.97 Million Position in RPX Corp (RPXC)

Bank of New York Mellon Corp lifted its position in RPX Corp (NASDAQ:RPXC) by 54.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,471 shares of the business services provider’s stock after buying an additional 130,497 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of RPX worth $4,966,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital Fund Management S.A. bought a new position in shares of RPX in the fourth quarter valued at $171,000. Wells Fargo & Company MN grew its stake in shares of RPX by 4.9% in the fourth quarter. Wells Fargo & Company MN now owns 373,021 shares of the business services provider’s stock valued at $5,013,000 after buying an additional 17,521 shares in the last quarter. First Trust Advisors LP grew its stake in shares of RPX by 12.0% in the fourth quarter. First Trust Advisors LP now owns 44,310 shares of the business services provider’s stock valued at $596,000 after buying an additional 4,732 shares in the last quarter. Bailard Inc. bought a new position in shares of RPX in the fourth quarter valued at $335,000. Finally, California Public Employees Retirement System boosted its position in RPX by 12.7% during the fourth quarter. California Public Employees Retirement System now owns 92,084 shares of the business services provider’s stock worth $1,238,000 after purchasing an additional 10,406 shares during the period. 89.69% of the stock is owned by institutional investors and hedge funds.

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In other RPX news, CFO David James Anderson sold 5,000 shares of RPX stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.94, for a total transaction of $64,700.00. Following the completion of the transaction, the chief financial officer now directly owns 11,634 shares of the company’s stock, valued at $150,543.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.52% of the company’s stock.

RPXC stock opened at $10.88 on Monday. RPX Corp has a one year low of $9.74 and a one year high of $15.15. The firm has a market cap of $542.91, a price-to-earnings ratio of 21.33 and a beta of 1.33.

RPX (NASDAQ:RPXC) last released its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.09. RPX had a negative net margin of 23.95% and a positive return on equity of 6.17%. The firm had revenue of $81.80 million during the quarter, compared to analysts’ expectations of $81.20 million. During the same period in the previous year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. RPX’s dividend payout ratio (DPR) is 19.61%.

A number of equities analysts have commented on the stock. Barclays reaffirmed a “sell” rating and set a $14.00 price objective on shares of RPX in a research report on Friday, January 5th. BidaskClub cut shares of RPX from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, TheStreet cut shares of RPX from a “b-” rating to a “c-” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

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RPX 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.

Institutional Ownership by Quarter for RPX (NASDAQ:RPXC)

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