In a recently-amended 13D filing with the Securities and Exchange Commission, Nathaniel August‘s Mangrove Partners Master Fund, Ltd. reported increasing its stake in Rpx Corp (NASDAQ:RPXC) to 3.59 million common shares, which amass 7.2% of the company’s outstanding stock. Previously, the fund’s stake consisted of 3.53 million common shares, as per its 13F filing for the reporting period of June 30.
RPX Corporation is a provider of patent risk management solutions that offer a variety of professional services to customers in the areas of acquisition syndication, defensive buying, advisory, and patent intelligence. Over the past 12 months, the company’s stock has lost 29.64%. For the second quarter of 2016, the company disclosed earnings per share of $0.18 and revenue of $83.11 million, both beating analysts’ estimates of $0.13 for EPS, and $82.14 million for revenue.
According to our hedge fund database, investors long Rpx (NASDAQ:RPXC) at the end of June included Jim Simons’ Renaissance Technologies, with a position valued at $18.80 million, Chuck Royce’s Royce & Associates, with a $4.21 million position, Joshua Packwood and Schuster Tanger’s Radix Partners, and Matthew Tewksbury’s Stevens Capital Management.
Some of the smart money managers who initiated new positions in the stock during the second quarter included Ari Zweiman’s 683 Capital Partners, which had $6.42 million invested in the company at the end of June, Ken Griffin’s Citadel Investment Group, which acquired a $232,000 position, and Neil Chriss’ Hutchin Hill Capital. An investor who decided to dump Rpx (NASDAQ:RPXC) during the quarter was George Hall’s Clinton Group, which said goodbye to the $455,000 worth of stock that it had held on March 31.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|The Mangrove Partners Master Fund, Ltd||0||3,592,314||0||3,592,314||3,592,314||7.2%|
|The Mangrove Partners Fund||0||3,592,314||0||3,592,314||3,592,314||7.2%|
|The Mangrove Partners Fund (Cayman), Ltd||0||3,592,314||0||3,592,314||3,592,314||7.2%|