Acacia Research Corp (ACTG) CEO Marvin E. Key Acquires 65,000 Shares

Acacia Research Corp (NASDAQ:ACTG) CEO Marvin E. Key acquired 65,000 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were purchased at an average price of $3.76 per share, with a total value of $244,400.00. Following the completion of the transaction, the chief executive officer now owns 135,833 shares of the company’s stock, valued at $510,732.08. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Acacia Research Corp (NASDAQ:ACTG) traded up 5.74% during midday trading on Monday, reaching $4.05. 898,997 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $3.58 and a 200 day moving average price of $5.89. The company’s market cap is $201.48 million. Acacia Research Corp has a 12-month low of $2.82 and a 12-month high of $12.51.

Acacia Research Corp (NASDAQ:ACTG) last announced its earnings results on Thursday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.02. The business had revenue of $37.50 million for the quarter, compared to analyst estimates of $27.61 million. During the same period in the previous year, the firm posted $0.03 EPS. Acacia Research Corp’s revenue was up 21.0% compared to the same quarter last year. On average, analysts expect that Acacia Research Corp will post $0.30 EPS for the current fiscal year.

Several research firms have recently weighed in on ACTG. Lake Street Capital decreased their price objective on shares of Acacia Research Corp from $12.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, December 23rd. Zacks Investment Research cut shares of Acacia Research Corp from a “hold” rating to a “sell” rating in a research report on Thursday, December 24th. Northland Securities cut shares of Acacia Research Corp to a “hold” rating in a research report on Monday, December 28th. Finally, Barclays cut shares of Acacia Research Corp from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $12.00 to $4.00 in a research report on Tuesday, January 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $7.83.

Other large investors recently made changes to their positions in the company. CWM LLC raised its stake in shares of Acacia Research Corp by 38.5% in the fourth quarter. CWM LLC now owns 2,910,486 shares of the company’s stock valued at $12,486,000 after buying an additional 809,691 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Acacia Research Corp by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 94,571 shares of the company’s stock valued at $406,000 after buying an additional 1,635 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Acacia Research Corp by 34.9% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,253,729 shares of the company’s stock valued at $5,378,000 after buying an additional 324,301 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its stake in shares of Acacia Research Corp by 530.3% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 522,830 shares of the company’s stock valued at $2,243,000 after buying an additional 439,880 shares during the last quarter.

Acacia Research Corporation is a holding company. The Company, through its subsidiaries, engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Company’s subsidiaries generate revenues from the granting of intellectual property rights for the use of patented technologies that its subsidiaries control or own.