Insider Buying: Acacia Research Corp (ACTG) Insider Buys 10,000 Shares of Stock

Acacia Research Corp (NASDAQ:ACTG) insider Marc W. Booth purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $3.10 per share, with a total value of $31,000.00. Following the completion of the transaction, the insider now owns 40,000 shares of the company’s stock, valued at approximately $124,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Acacia Research stock traded up $0.02 during midday trading on Tuesday, hitting $3.11. The company had a trading volume of 170,544 shares, compared to its average volume of 120,544. Acacia Research Corp has a 12-month low of $2.75 and a 12-month high of $4.40.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings data on Wednesday, March 13th. The business services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.49. The firm had revenue of $49.20 million during the quarter. Acacia Research had a negative net margin of 79.87% and a negative return on equity of 14.26%.

Separately, ValuEngine raised shares of Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, February 4th.

Several institutional investors have recently made changes to their positions in ACTG. JPMorgan Chase & Co. raised its position in shares of Acacia Research by 99.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,639 shares of the business services provider’s stock valued at $4,671,000 after purchasing an additional 729,381 shares during the last quarter. Leisure Capital Management purchased a new position in shares of Acacia Research in the 3rd quarter valued at approximately $104,000. PEAK6 Investments LLC purchased a new position in shares of Acacia Research in the 3rd quarter valued at approximately $223,000. AQR Capital Management LLC raised its position in shares of Acacia Research by 21.9% in the 3rd quarter. AQR Capital Management LLC now owns 185,529 shares of the business services provider’s stock valued at $594,000 after purchasing an additional 33,300 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Acacia Research by 67.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,249,732 shares of the business services provider’s stock valued at $7,199,000 after purchasing an additional 909,195 shares during the last quarter. 61.64% of the stock is owned by hedge funds and other institutional investors.

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About Acacia Research

Acacia Research Corporation, together with its subsidiaries, invests in, licenses, and enforces patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.

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