Rpx Corp (RPXC): Mangrove Partners Raises Stake to 7.2%

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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.

Nathaniel August - Mangrove Partners

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.

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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%
Mangrove Partners 0 3,592,314 0 3,592,314 3,592,314 7.2%
Mangrove Capital 0 3,592,314 0 3,592,314 3,592,314 7.2%
Nathaniel August 0 3,592,314 0 3,592,314 3,592,314 7.2%

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Page 1 of 10 – SEC Filing

(RULE 13D – 101)
(Amendment No. 3)*
RPX Corporation
(Name of Issuer)
Common Stock, $0.0001 par value
(Title of Class of Securities)
(CUSIP Number)
Christopher P. Davis, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C.
551 Fifth Avenue, New York, New York 10176
Tel:  (212) 986-6000
 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
August 5, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [  ].
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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