Mangrove Partners buys $37,934,836 stake in RPX Corp (RPXC)

RPX Corp (RPXC) : Mangrove Partners scooped up 61,152 additional shares in RPX Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,592,314 shares of RPX Corp which is valued at $37,934,836.RPX Corp makes up approximately 7.98% of Mangrove Partners’s portfolio.

Other Hedge Funds, Including , D. E. Shaw boosted its stake in RPXC in the latest quarter, The investment management firm added 43,823 additional shares and now holds a total of 1,350,205 shares of RPX Corp which is valued at $14,474,198. RPX Corp makes up approx 0.03% of D. E. Shaw’s portfolio.New York State Teachers Retirement System reduced its stake in RPXC by selling 100 shares or 2.27% in the most recent quarter. The Hedge Fund company now holds 4,300 shares of RPXC which is valued at $44,247. Stevens Capital Management Lp sold out all of its stake in RPXC during the most recent quarter. The investment firm sold 11,210 shares of RPXC which is valued $107,392.Blackrock Institutional Trust Company N.a. reduced its stake in RPXC by selling 488,907 shares or 19.68% in the most recent quarter. The Hedge Fund company now holds 1,995,924 shares of RPXC which is valued at $19,120,952.

RPX Corp opened for trading at $10.6 and hit $10.63 on the upside on Monday, eventually ending the session at $10.63, with a gain of 0.57% or 0.06 points. The heightened volatility saw the trading volume jump to 2,04,594 shares. Company has a market cap of $522 M.

On the company’s financial health, RPX Corp reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.23. The company had revenue of $88.50 million for the quarter, compared to analysts expectations of $87.28 million. The company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on RPX Corp. Shares were Reiterated by Cowen on Nov 4, 2016 to “Outperform” and Lowered the Price Target to $ 12 from a previous price target of $14 .

RPX Corporation (RPX) helps companies reduce patent-related risk and expense by providing a subscription-based patent risk management solution. 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. 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. It then licenses these patent assets to its clients to protect them from potential patent infringement assertions. It also provides its clients with access to its patent market intelligence and data. The Company acquires patent assets from multiple parties including operating companies individual inventors non-practicing entities (NPEs) universities and bankruptcy trustees.

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