Insider Selling: Matthew Vella Sells 24,446 Shares of Acacia Research Corp Stock (ACTG)
Acacia Research Corp (NASDAQ:ACTG) CEO Matthew Vella unloaded 24,446 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 $362,778.64. Following the transaction, the chief executive officer now directly owns 214,246 shares of the company’s stock, valued at approximately $3,179,411. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on ACTG. 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 investment 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 company has a consensus rating of “Hold” and an average target price of $22.02.
Shares of Acacia Research Corp (NASDAQ:ACTG) traded up 1.56% on Wednesday, hitting $15.02. The stock had a trading volume of 310,843 shares. Acacia Research Corp has a one year low of $12.23 and a one year high of $25.74. The stock’s 50-day moving average is $16.08 and its 200-day moving average is $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) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.47 earnings per share. Acacia Research Corp’s revenue was down 83.7% compared to the same quarter last year. 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. Shareholders 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.
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.