Acacia Research Corp (NASDAQ:ACTG) insider Marc W. Booth bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was purchased at an average cost of $3.13 per share, for a total transaction of $31,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
NASDAQ:ACTG traded up $0.26 during trading hours on Wednesday, hitting $3.28. The company had a trading volume of 191,200 shares, compared to its average volume of 217,299. The stock has a market cap of $151.46 million, a P/E ratio of 1.01 and a beta of 0.94. Acacia Research Corp has a 52 week low of $2.85 and a 52 week high of $4.70.
Acacia Research (NASDAQ:ACTG) last released its quarterly earnings results on Thursday, October 25th. The business services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.19. The business had revenue of $13.73 million for the quarter, compared to analysts’ expectations of $5.00 million. Acacia Research had a negative net margin of 237.71% and a negative return on equity of 20.66%.
ACTG has been the topic of several analyst reports. Zacks Investment Research raised shares of Acacia Research from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut shares of Acacia Research from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Acacia Research in the second quarter valued at $105,000. Macquarie Group Ltd. bought a new stake in Acacia Research in the second quarter valued at $655,000. PEAK6 Investments L.P. bought a new stake in Acacia Research in the second quarter valued at $111,000. JPMorgan Chase & Co. boosted its holdings in Acacia Research by 15.4% in the first quarter. JPMorgan Chase & Co. now owns 118,011 shares of the business services provider’s stock valued at $414,000 after acquiring an additional 15,725 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Acacia Research by 38.0% in the first quarter. California Public Employees Retirement System now owns 126,836 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 34,936 shares in the last quarter. Institutional investors and hedge funds own 62.56% of the company’s stock.
About Acacia Research
Acacia Research Corporation, together with its subsidiaries, invests in, licenses, and enforces patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.
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