RPX (RPXC) Raised to Sell at BidaskClub

RPX (NASDAQ:RPXC) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.

RPXC has been the subject of several other research reports. TheStreet downgraded RPX from a “b-” rating to a “c-” rating in a research note on Thursday, February 22nd. ValuEngine downgraded RPX from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. RPX currently has a consensus rating of “Hold” and a consensus target price of $14.33.

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Shares of NASDAQ RPXC opened at $10.48 on Wednesday. The stock has a market cap of $523.31 million, a price-to-earnings ratio of 22.78 and a beta of 1.29. RPX has a 12 month low of $9.74 and a 12 month high of $14.99.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. AMP Capital Investors Ltd acquired a new position in RPX during the fourth quarter worth about $144,000. Royal Bank of Canada grew its holdings in shares of RPX by 53.1% during the first quarter. Royal Bank of Canada now owns 15,310 shares of the business services provider’s stock worth $163,000 after purchasing an additional 5,310 shares during the last quarter. Martingale Asset Management L P bought a new stake in shares of RPX during the fourth quarter worth about $169,000. Capital Fund Management S.A. bought a new stake in shares of RPX during the fourth quarter worth about $171,000. Finally, Wedge Capital Management L L P NC bought a new stake in shares of RPX during the first quarter worth about $178,000. 88.84% of the stock is owned by hedge funds and other institutional investors.

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.