RPX (RPXC) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of RPX (NASDAQ:RPXC) from a sell rating to a strong sell rating in a research note published on Wednesday.

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of RPX from a hold rating to a sell rating in a research report on Saturday, May 12th. TheStreet downgraded shares of RPX from a c- rating to a d rating in a research report on Friday, April 6th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $14.33.

Shares of NASDAQ:RPXC opened at $10.48 on Wednesday. RPX has a 52-week low of $9.74 and a 52-week high of $14.99. The company has a market capitalization of $523.31 million, a price-to-earnings ratio of 22.78 and a beta of 1.29.

RPX (NASDAQ:RPXC) last issued its quarterly earnings data on Tuesday, May 1st. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.07). RPX had a negative net margin of 27.00% and a positive return on equity of 5.04%. The firm had revenue of $67.10 million during the quarter, compared to analyst estimates of $73.50 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue was down 11.0% compared to the same quarter last year.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in RPX by 53.4% in the first quarter. JPMorgan Chase & Co. now owns 3,363,962 shares of the business services provider’s stock worth $35,960,000 after purchasing an additional 1,170,966 shares during the period. Matarin Capital Management LLC acquired a new position in RPX in the first quarter worth $5,694,000. Alambic Investment Management L.P. boosted its holdings in RPX by 284.4% in the first quarter. Alambic Investment Management L.P. now owns 336,488 shares of the business services provider’s stock worth $3,597,000 after purchasing an additional 248,948 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in RPX by 32.3% in the first quarter. Thompson Siegel & Walmsley LLC now owns 787,377 shares of the business services provider’s stock worth $8,417,000 after purchasing an additional 192,430 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in RPX by 218.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 272,726 shares of the business services provider’s stock worth $3,665,000 after purchasing an additional 187,010 shares during the period. 88.88% of the stock is owned by institutional investors and hedge funds.

About RPX

RPX Corporation provides patent risk management and discovery services in the United States, Japan, South Korea, and internationally. It offers a subscription-based patent risk management service that facilitates exchanges of value between owners and users of patents. The company also provides a defensive patent aggregation in which it acquires patent assets to offer clients with sub-licenses; and underwrites patent infringement liability insurance policies to insure against certain costs of litigation.

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