Barrow Hanley Mewhinney & Strauss LLC grew its holdings in RPX Co. (NASDAQ:RPXC) by 16.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,657 shares of the business services provider’s stock after buying an additional 33,601 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.49% of RPX worth $2,594,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of RPXC. AMP Capital Investors Ltd purchased a new stake in shares of RPX in the fourth quarter valued at about $144,000. Martingale Asset Management L P purchased a new stake in shares of RPX in the fourth quarter valued at about $169,000. Capital Fund Management S.A. purchased a new stake in shares of RPX in the fourth quarter valued at about $171,000. Teacher Retirement System of Texas purchased a new stake in shares of RPX in the fourth quarter valued at about $207,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of RPX in the first quarter valued at about $178,000. Institutional investors and hedge funds own 88.84% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. TheStreet lowered shares of RPX from a “c-” rating to a “d” rating in a report on Friday, April 6th. BidaskClub raised shares of RPX from a “sell” rating to a “hold” rating in a report on Saturday, March 24th. Finally, ValuEngine lowered shares of RPX from a “hold” rating to a “sell” rating in a report on Saturday, May 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.33.
Shares of RPX opened at $10.48 on Friday, MarketBeat reports. 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 Co. has a 1-year low of $9.74 and a 1-year high of $14.99.
RPX (NASDAQ:RPXC) last issued its quarterly earnings results on Tuesday, May 1st. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.07). The company 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 company’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS.
RPX Company Profile
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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