Insider Selling: Acacia Research Corp CFO Unloads 6,732 Shares of Stock (ACTG)
Acacia Research Corp (NASDAQ:ACTG) CFO Clayton J. Haynes unloaded 6,732 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.84, for a total value of $99,902.88. Following the completion of the sale, the chief financial officer now directly owns 102,938 shares of the company’s stock, valued at approximately $1,527,600. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Acacia Research Corp (NASDAQ:ACTG) traded up 1.56% during mid-day trading on Wednesday, hitting $15.02. 310,843 shares of the company’s stock traded hands. 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 announced its earnings results on Thursday, April 17th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter 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 announced a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, April 29th.
A number of analysts have recently weighed in on ACTG shares. 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.02.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.