Acacia Research Corp (NASDAQ:ACTG) insider Marc W. Booth purchased 10,000 shares of Acacia Research stock in a transaction dated Thursday, September 6th. The shares were purchased at an average price of $3.48 per share, for a total transaction of $34,800.00. Following the completion of the acquisition, the insider now owns 20,000 shares of the company’s stock, valued at approximately $69,600. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of NASDAQ:ACTG traded up $0.15 during midday trading on Friday, hitting $3.50. 314,378 shares of the stock were exchanged, compared to its average volume of 138,712. The stock has a market cap of $165.81 million, a P/E ratio of 1.18 and a beta of 0.94. Acacia Research Corp has a 12 month low of $3.25 and a 12 month high of $5.50.
Acacia Research (NASDAQ:ACTG) last released its quarterly earnings results on Wednesday, August 8th. The business services provider reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The firm had revenue of $6.49 million for the quarter, compared to the consensus estimate of $5.00 million. Acacia Research had a positive return on equity of 46.49% and a negative net margin of 11.23%. The business’s revenue for the quarter was down 60.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) earnings per share.
Several large investors have recently added to or reduced their stakes in ACTG. Deutsche Bank AG grew its holdings in shares of Acacia Research by 135.1% during the fourth quarter. Deutsche Bank AG now owns 116,401 shares of the business services provider’s stock worth $470,000 after purchasing an additional 66,887 shares during the last quarter. Alambic Investment Management L.P. bought a new stake in Acacia Research in the first quarter valued at approximately $695,000. 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 during the last quarter. 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Acacia Research by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,606,538 shares of the business services provider’s stock valued at $5,623,000 after acquiring an additional 17,126 shares during the last quarter. Institutional investors own 60.16% of the company’s stock.
Separately, Zacks Investment Research upgraded Acacia Research from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd.
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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