Acacia Research Corp Director Sells $17,750 in Stock (ACTG)
Acacia Research Corp (NASDAQ:ACTG) Director Fred A. Deboom sold 1,000 shares of the stock on the open market in a transaction dated Thursday, August 28th. The stock was sold at an average price of $17.75, for a total value of $17,750.00. Following the completion of the transaction, the director now directly owns 76,923 shares in the company, valued at approximately $1,365,383. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on ACTG. Analysts at Zacks upgraded shares of Acacia Research Corp from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 20th. They now have a $17.50 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Acacia Research Corp from $15.00 to $19.00 in a research note on Tuesday, July 29th. They now have an “equal weight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Acacia Research Corp from $15.00 to $19.00 in a research note on Tuesday, July 29th. They now have an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Acacia Research Corp currently has a consensus rating of “Hold” and an average price target of $22.17.
Acacia Research Corp (NASDAQ:ACTG) traded up 0.06% on Tuesday, hitting $17.80. 313,275 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 $23.87. The stock has a 50-day moving average of $16.7 and a 200-day moving average of $16.1. The company’s market cap is $891.9 million.
Acacia Research Corp (NASDAQ:ACTG) last announced its earnings results on Thursday, July 24th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.10. The company had revenue of $50.07 million for the quarter, compared to the consensus estimate of $15.13 million. During the same quarter last year, the company posted $0.06 earnings per share. Acacia Research Corp’s revenue was up 116.8% compared to the same quarter last year. Analysts expect that Acacia Research Corp will post $0.18 EPS for the current fiscal year.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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