Acacia Research (ACTG) Releases Quarterly Earnings Results

Acacia Research (NASDAQ:ACTG) posted its quarterly earnings results on Tuesday. The business services provider reported ($2.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($2.07), Bloomberg Earnings reports. Acacia Research had a return on equity of 50.75% and a net margin of 145.12%.

Shares of Acacia Research (NASDAQ ACTG) remained flat at $$3.60 during mid-day trading on Tuesday. The company’s stock had a trading volume of 143,589 shares, compared to its average volume of 248,180. The stock has a market cap of $179.65, a price-to-earnings ratio of 1.50 and a beta of 1.10. Acacia Research has a 1 year low of $2.90 and a 1 year high of $6.30.

An institutional investor recently raised its position in Acacia Research stock. The Manufacturers Life Insurance Company increased its position in shares of Acacia Research Corp (NASDAQ:ACTG) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,910 shares of the business services provider’s stock after purchasing an additional 4,553 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Acacia Research worth $188,000 at the end of the most recent quarter. Institutional investors own 67.49% of the company’s stock.

ACTG has been the subject of several research reports. TheStreet upgraded shares of Acacia Research from a “d” rating to a “c-” rating in a research note on Thursday, October 26th. ValuEngine upgraded shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Barclays reiterated a “sell” rating and set a $5.00 target price on shares of Acacia Research in a research note on Tuesday, October 31st. Finally, Zacks Investment Research downgraded shares of Acacia Research from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Acacia Research has an average rating of “Hold” and a consensus price target of $6.50.

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Acacia Research Company Profile

Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.

Earnings History for Acacia Research (NASDAQ:ACTG)

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