Barclays Reiterates “Sell” Rating for RPX (RPXC)

Barclays reissued their sell rating on shares of RPX (NASDAQ:RPXC) in a research note issued to investors on Friday, January 5th. The brokerage currently has a $14.00 price target on the business services provider’s stock.

Other analysts have also recently issued research reports about the company. Robert W. Baird restated a buy rating and issued a $15.00 price target on shares of RPX in a research report on Wednesday, November 1st. Zacks Investment Research cut RPX from a buy rating to a hold rating in a research report on Wednesday, October 4th. Finally, BidaskClub cut RPX from a hold rating to a sell rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $14.25.

RPX (NASDAQ:RPXC) traded up $0.11 during mid-day trading on Friday, reaching $13.99. The company’s stock had a trading volume of 363,451 shares, compared to its average volume of 376,003. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.54 and a current ratio of 2.54. The company has a market capitalization of $687.43, a P/E ratio of 38.86 and a beta of 1.38. RPX has a 52 week low of $10.41 and a 52 week high of $15.15.

RPX (NASDAQ:RPXC) last issued its quarterly earnings results on Monday, October 30th. The business services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $85.70 million during the quarter, compared to analysts’ expectations of $82.70 million. RPX had a return on equity of 5.16% and a net margin of 5.53%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share.

In related news, CFO David James Anderson sold 5,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 26,981 shares in the company, valued at $345,356.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.52% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of RPX in the 3rd quarter valued at approximately $172,000. Nationwide Fund Advisors lifted its stake in shares of RPX by 43.6% in the 2nd quarter. Nationwide Fund Advisors now owns 68,590 shares of the business services provider’s stock valued at $957,000 after purchasing an additional 20,832 shares during the last quarter. James Investment Research Inc. bought a new stake in shares of RPX in the 4th quarter valued at approximately $1,115,000. Schwab Charles Investment Management Inc. lifted its stake in shares of RPX by 6.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 250,773 shares of the business services provider’s stock valued at $3,371,000 after purchasing an additional 14,603 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in shares of RPX by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 954,538 shares of the business services provider’s stock valued at $12,829,000 after purchasing an additional 5,927 shares during the last quarter. Institutional investors and hedge funds own 89.16% of the company’s stock.

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About RPX

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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