Acacia Research Corp.-Acacia Technologies President Matthew Vella Unloads 2,400 Shares (ACTG)
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) President Matthew Vella sold 2,400 shares of Acacia Research Corp.-Acacia Technologies stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $16.03, for a total transaction of $38,472.00. Following the sale, the president now directly owns 181,892 shares in the company, valued at approximately $2,915,729. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) traded up 0.57% on Thursday, hitting $15.77. 685,214 shares of the company’s stock traded hands. Acacia Research Corp.-Acacia Technologies has a one year low of $19.86 and a one year high of $32.59. The stock’s 50-day moving average is $22.46 and its 200-day moving average is $24.87. The company’s market cap is $787.8 million.
Acacia Research Corp.-Acacia Technologies (NASDAQ:ACTG) last announced its earnings results on Thursday, October 17th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.31. The company had revenue of $15.52 million for the quarter, compared to the consensus estimate of $34.94 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 55.5% on a year-over-year basis. Analysts expect that Acacia Research Corp.-Acacia Technologies will post $1.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 29th. Investors of record on Friday, November 1st will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, October 30th.
ACTG has been the subject of a number of recent research reports. Analysts at Stephens downgraded shares of Acacia Research Corp.-Acacia Technologies from an “overweight” rating to an “underweight” rating in a research note to investors on Friday, October 18th. Separately, analysts at Zacks downgraded shares of Acacia Research Corp.-Acacia Technologies from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, October 17th. They now have a $19.70 price target on the stock. Finally, analysts at Zacks upgraded shares of Acacia Research Corp.-Acacia Technologies from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 18th. They now have a $23.50 price target on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.43.
Acacia Research Corporation, through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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