Acacia Research Corporation (NASDAQ:ACTG – Get Free Report)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $5.24 and last traded at $5.2150, with a volume of 33884 shares traded. The stock had previously closed at $5.13.
Analyst Ratings Changes
Several equities analysts have recently issued reports on ACTG shares. Wall Street Zen downgraded shares of Acacia Research from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings raised Acacia Research from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 13th. Finally, Craig Hallum increased their price target on Acacia Research from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.
Get Our Latest Stock Report on ACTG
Acacia Research Stock Up 0.1%
Acacia Research (NASDAQ:ACTG – Get Free Report) last posted its quarterly earnings results on Wednesday, March 11th. The business services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.17. Acacia Research had a net margin of 7.60% and a return on equity of 4.11%. The firm had revenue of $50.13 million during the quarter, compared to the consensus estimate of $38.00 million.
Institutional Investors Weigh In On Acacia Research
A number of hedge funds have recently added to or reduced their stakes in ACTG. Pekin Hardy Strauss Inc. bought a new stake in shares of Acacia Research during the fourth quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new stake in Acacia Research in the 4th quarter valued at $38,000. AQR Capital Management LLC acquired a new stake in Acacia Research in the 1st quarter valued at $35,000. Occudo Quantitative Strategies LP bought a new stake in Acacia Research during the 4th quarter valued at $49,000. Finally, Abel Hall LLC acquired a new position in Acacia Research during the fourth quarter worth $51,000. Institutional investors and hedge funds own 86.69% of the company’s stock.
Acacia Research Company Profile
Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.
The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.
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