Acacia Research Corp Director Fred A. Deboom Unloads 1,000 Shares (ACTG)
Acacia Research Corp (NASDAQ:ACTG) Director Fred A. Deboom unloaded 1,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $17.75, for a total value of $17,750.00. Following the completion of the sale, the director now directly owns 76,923 shares in the company, valued at approximately $1,365,383. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Acacia Research Corp (NASDAQ:ACTG) opened at 17.57 on Thursday. Acacia Research Corp has a one year low of $12.23 and a one year high of $23.87. The stock’s 50-day moving average is $16.86 and its 200-day moving average is $16.15. The company’s market cap is $880.3 million.
Acacia Research Corp (NASDAQ:ACTG) last announced its earnings results 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 prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue 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.
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 stock. The stock currently has a consensus 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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