Insider Selling: Fred A. Deboom Sells 1,000 Shares of Acacia Research Corp Stock (ACTG)
Acacia Research Corp (NASDAQ:ACTG) Director Fred A. Deboom sold 1,000 shares of Acacia Research Corp stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $17.75, for a total transaction of $17,750.00. Following the completion of the transaction, the director now directly owns 76,923 shares of the company’s stock, valued at approximately $1,365,383. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Acacia Research Corp (NASDAQ:ACTG) traded up 0.06% during mid-day trading 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 in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 116.8% on a year-over-year basis. On average, analysts predict that Acacia Research Corp will post $0.18 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Acacia Research Corp has an average rating of “Hold” and an average target price of $22.17.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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