Acacia Research Corp Director Sells 1,000 Shares (ACTG)
Acacia Research Corp (NASDAQ:ACTG) Director Fred A. Deboom sold 1,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,365,383. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Acacia Research Corp (NASDAQ:ACTG) opened at 17.80 on Wednesday. Acacia Research Corp has a 1-year low of $12.23 and a 1-year high of $23.87. The stock’s 50-day moving average is $16.7 and its 200-day moving average is $16.1. The company’s market cap is $891.9 million.
Acacia Research Corp (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Acacia Research Corp presently has an average rating of “Hold” and a consensus target price of $22.17.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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