RPX (NASDAQ:RPXC) Receives a Downgrade
Robert W. Baird has just given shares of RPX (NASDAQ:RPXC)an updated “Neutral” rating in an analyst research report shared with investors and clients on 16 December. This is a downgrade from the previous “Outperform” rating that they had set. The brokerage presently has a $14.0 target price per share on firm, which suggests the potential for a 3.63% upside.
From a total of 4 analysts covering RPX Corporation (NASDAQ:RPXC) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 0 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $20 while the lowest target price is $15. The mean of all analyst targets is $17.5 with a 18.43% above today’s ($13.51) stock price. RPX Corporation was the topic of 2 analyst reports since August 20, 2015 according to the firm StockzIntelligence Inc. Barclays Capital downgraded shares on August 20 to “Underweight” rating.
The stock increased 2.27% or $0.3 during the last trading session, striking $13.51. Approximately shares of stock traded hands. RPX Corp (NASDAQ:RPXC) has declined 13.12% since May 13, 2015 and is downtrending. It has underperformed by 10.49% the S&P500.
The overall sentiment of institutions has decreased to 0.99 in Q2 2015. Its down 0.22, from 1.21 in 2015Q2. The ratio turned negative, as 24 institutions have sold all the shares of RPX Corp that they owned while 52 funds have taken shares off the table. 9 funds have purchased shares for the first time while 66 added to their positions. These institutions now hold 44.58 million shares or 10.10% less than the 49.59 million shares they owned in 2015Q2.
The Fund Mangrove Partners currently is holding shares equating to 1.31% of its total portfolio in RPX Corp representing a total of 415,899 shares. Another fund,Killen Group Inc, is holding a total of 816,865 shares equating to 1.05% of their holdings. Additionally, Tealwood Asset Management Inc has a 152,424 share stake in RPX Corp which represents 0.91% of their total portfolio. The Fund, Piermont Capital Management Inc., based out of Missouri, has also built up a stake in the stock, which represents a total of 0.83% of their total portfolio. Finally Baltimore, a fund which is based in the state of Alabama reported a total holdings of 187,888 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 13, 2015, shareholders of RPX Corp have witnessed 0 insider purchases, and a total of 9 insider sales equating to a net activity of approximately $1.56 million . Yen Mallun sold 15,000 shares worth approximately $210,000. Scola Paul E sold 4,486 shares worth approximately $60,336. Swank Steven S sold 5,363 shares worth approximately $72,147. Barker Geoffrey T sold 10,000 shares worth approximately $163,496. The company insider Heath Robert H sold 5,000 shares worth $79,852.
RPX Corporation helps companies reduce patent-related risk and expense by providing a subscription patent risk management solution. The company has a market cap of $718.45 million. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents compared to transactions driven by actual or threatened litigation. It has 17.33 P/E ratio. The core of its solution is defensive patent aggregation, in which it acquires patents and licenses to patents that are being or may be asserted against its and prospective clients.
According to Zacks Investment Research, “RPX Corporation is a provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services. The Company provides a subscription-based patent risk management solution where by acquiring patents it mitigates and manages patent risk. It also provides to its clients access to its proprietary patent market intelligence and data. Its clientele compromise companies that design, make or sell technology-based products and services as well as companies that use technology in their businesses. RPX Corporation is based in San Francisco, California.”