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Acacia Research Corp (NASDAQ:ACTG) Chairman Robert L. Harris II unloaded 14,561 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.84, for a total value of $216,085.24. Following the transaction, the chairman now directly owns 287,170 shares of the company’s stock, valued at approximately $4,261,603. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Several analysts have recently commented on the stock. Analysts at Cowen and Company reiterated a “positive” rating on shares of Acacia Research Corp in a research note on Thursday, May 15th. Separately, analysts at Zacks upgraded shares of Acacia Research Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 23rd. They now have a $17.60 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Acacia Research Corp in a research note on Tuesday, April 22nd. They now have a $20.50 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Acacia Research Corp currently has a consensus rating of “Hold” and an average target price of $22.02.

Acacia Research Corp (NASDAQ:ACTG) traded up 1.56% during mid-day trading on Wednesday, hitting $15.02. The stock had a trading volume of 310,843 shares. Acacia Research Corp has a 1-year low of $12.23 and a 1-year high of $25.74. The stock has a 50-day moving average of $16.08 and a 200-day moving average of $14.84. The company’s market cap is $751.9 million.

Acacia Research Corp (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, April 17th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.25 by $0.36. The company had revenue of $12.58 million for the quarter, compared to the consensus estimate of $238.48 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was down 83.7% on a year-over-year basis. On average, analysts predict that Acacia Research Corp will post $0.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, May 30th. Investors of record on Thursday, May 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, April 29th.

Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.

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