In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), RPX Corp (NASDAQ:RPXC) reported that Man Group Plc. has picked up 2,441,593 of common stock as of 2017-07-07.
The acquisition brings the aggregate amount owned by Man Group Plc. to a total of 2,441,593 representing a 5.02% stake in the company.
For those not familiar with the company, 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. Its patent risk management segment generates its revenues from membership subscriptions, premiums earned from insurance policies, and management fees for marketing, underwriting, and claim management. Its discovery services segment generates its revenues from fees generated for data collection, hosting and processing, project management, and document review services. The Company serves clients in a range of industries, including consumer electronics, personal computers, e-commerce, financial services, software, media content and distribution, mobile communications and handsets, networking and semiconductors.
A glance at RPX Corp (NASDAQ:RPXC)’s key stats reveals a current market capitalization of $644.17 Million based on $48.68 Million shares outstanding and a price at last close of $13.45 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-27, Palter picked up 98,000 at a purchase price of $9.87. This brings their total holding to 100,000 as of the date of the filing.
On the sell side, the most recent transaction saw Swank unload 2,340 shares at a sale price of $14.00. This brings their total holding to 1,857.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an RPX Corp (NASDAQ:RPXC) as things move forward to see if its progress aligns with these transactions.
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