Key Points
- Director Isaac Kohlberg sold 24,000 Acacia Research shares at an average price of $4.55, generating $109,200 and reducing his holdings by 30.65% to 54,310 shares.
- Acacia Research’s stock opened at $4.54, near its 50-day average of $4.55, while the company reported quarterly revenue of $114.56 million and adjusted earnings of $0.13 per share, exceeding analyst expectations.
- Institutional investors own 86.69% of the company, but analyst sentiment remains mixed: one analyst rates ACTG a Buy and another a Sell, resulting in a consensus Hold rating and a $6.00 average price target.
Acacia Research Corporation (NASDAQ:ACTG - Get Free Report) Director Isaac Kohlberg sold 24,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $4.55, for a total transaction of $109,200.00. Following the completion of the transaction, the director owned 54,310 shares in the company, valued at approximately $247,110.50. This represents a 30.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Acacia Research Stock Down 0.4%
ACTG stock opened at $4.54 on Thursday. The company has a 50 day moving average of $4.55 and a two-hundred day moving average of $4.68. The company has a market cap of $443.06 million, a price-to-earnings ratio of -30.27 and a beta of 0.44. Acacia Research Corporation has a 12-month low of $3.15 and a 12-month high of $5.27. The company has a quick ratio of 4.51, a current ratio of 4.76 and a debt-to-equity ratio of 0.11.
Acacia Research (NASDAQ:ACTG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.22. Acacia Research had a negative net margin of 5.39% and a positive return on equity of 0.44%. The business had revenue of $114.56 million for the quarter, compared to analysts' expectations of $49.50 million.
Institutional Trading of Acacia Research
Several large investors have recently made changes to their positions in the stock. Aegis Financial Corp bought a new position in shares of Acacia Research in the 1st quarter valued at approximately $2,362,000. NewEdge Advisors LLC boosted its position in Acacia Research by 28.5% during the first quarter. NewEdge Advisors LLC now owns 42,129 shares of the business services provider's stock worth $203,000 after purchasing an additional 9,351 shares during the period. Bank of America Corp DE grew its holdings in Acacia Research by 16.6% during the first quarter. Bank of America Corp DE now owns 33,319 shares of the business services provider's stock valued at $160,000 after purchasing an additional 4,746 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Acacia Research during the first quarter valued at approximately $215,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Acacia Research by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,853,889 shares of the business services provider's stock valued at $13,728,000 after purchasing an additional 95,089 shares during the period. Institutional investors own 86.69% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Acacia Research in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.00.
Read Our Latest Report on ACTG
Acacia Research Company Profile
(
Get Free Report)
Acacia Research Corporation is an investment company that acquires and manages businesses, intellectual property and other assets with the potential to generate long-term value. The company is publicly traded on the Nasdaq under the symbol ACTG.
Historically, Acacia has been best known for its patent licensing and enforcement activities. Through subsidiaries and affiliated entities, it has acquired patent portfolios from inventors, research institutions and operating companies, then pursued licensing agreements with businesses that use the underlying technologies.
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