Acacia Research Corporation (NASDAQ:ACTG) Director Frank E. Walsh III purchased 25,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were acquired at an average price of $3.98 per share, with a total value of $99,500.00. Following the completion of the transaction, the director now owns 383,961 shares of the company’s stock, valued at $1,528,164.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Acacia Research Corporation (ACTG) opened at 4.45 on Wednesday. Acacia Research Corporation has a 52 week low of $2.90 and a 52 week high of $7.68. The stock’s 50 day moving average is $3.40 and its 200 day moving average is $4.35. The company’s market capitalization is $225.16 million.
Acacia Research Corporation (NASDAQ:ACTG) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.25). Acacia Research Corporation had a negative return on equity of 1.06% and a negative net margin of 25.64%. The firm had revenue of $16.46 million for the quarter, compared to analysts’ expectations of $5.00 million. During the same period in the prior year, the firm posted $0.23 earnings per share. Acacia Research Corporation’s revenue for the quarter was down 60.2% on a year-over-year basis. On average, equities research analysts expect that Acacia Research Corporation will post $0.02 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC boosted its stake in shares of Acacia Research Corporation by 23.7% during the 1st quarter. ClariVest Asset Management LLC now owns 270,600 shares of the business services provider’s stock worth $1,556,000 after purchasing an additional 51,900 shares during the period. AXA purchased a new position in shares of Acacia Research Corporation during the 1st quarter worth about $186,000. Eagle Global Advisors LLC purchased a new position in shares of Acacia Research Corporation during the 1st quarter worth about $136,000. Trexquant Investment LP purchased a new position in shares of Acacia Research Corporation during the 1st quarter worth about $132,000. Finally, Geode Capital Management LLC boosted its stake in shares of Acacia Research Corporation by 5.6% during the 1st quarter. Geode Capital Management LLC now owns 379,856 shares of the business services provider’s stock worth $2,184,000 after purchasing an additional 20,257 shares during the period. 70.91% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. ValuEngine lowered shares of Acacia Research Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Acacia Research Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Finally, Northland Securities set a $8.00 price objective on shares of Acacia Research Corporation and gave the company a “buy” rating in a research note on Monday, July 10th.
About Acacia Research Corporation
Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.
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