Acacia Research Corp (NASDAQ:ACTG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Acacia Research Corporation, through its subsidiaries, develops, acquires, and licenses 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. Acacia Research Corporation is based in Newport Beach, California. “

Acacia Research Corp (NASDAQ:ACTG) opened at 5.40 on Friday. The stock has a 50 day moving average price of $5.75 and a 200-day moving average price of $6.27. The company’s market cap is $272.52 million. Acacia Research Corp has a 1-year low of $3.60 and a 1-year high of $7.68.

Acacia Research Corp (NASDAQ:ACTG) last posted its quarterly earnings data on Thursday, March 9th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.06. The business earned $22 million during the quarter, compared to analyst estimates of $24 million. Acacia Research Corp had a positive return on equity of 9.53% and a negative net margin of 94.19%. The firm’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that Acacia Research Corp will post $0.50 EPS for the current year.

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In other Acacia Research Corp news, Director Frank E. Walsh III acquired 7,335 shares of the stock in a transaction dated Tuesday, March 14th. The stock was purchased at an average price of $5.05 per share, with a total value of $37,041.75. Following the transaction, the director now directly owns 322,197 shares of the company’s stock, valued at $1,627,094.85. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank E. Walsh III acquired 44,765 shares of the stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $5.09 per share, with a total value of $227,853.85. Following the transaction, the director now directly owns 270,097 shares in the company, valued at $1,374,793.73. The disclosure for this purchase can be found here. 2.81% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of Acacia Research Corp during the third quarter worth about $117,000. Wells Fargo & Company MN raised its position in shares of Acacia Research Corp by 41.1% in the third quarter. Wells Fargo & Company MN now owns 20,073 shares of the company’s stock worth $131,000 after buying an additional 5,850 shares during the period. Princeton Alpha Management LP raised its position in shares of Acacia Research Corp by 96.2% in the third quarter. Princeton Alpha Management LP now owns 22,788 shares of the company’s stock worth $149,000 after buying an additional 11,175 shares during the period. Royal Bank of Canada raised its position in shares of Acacia Research Corp by 23.3% in the second quarter. Royal Bank of Canada now owns 36,584 shares of the company’s stock worth $161,000 after buying an additional 6,903 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Acacia Research Corp during the fourth quarter worth about $243,000. Institutional investors own 76.59% of the company’s stock.

About Acacia Research Corp

Acacia Research Corporation, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Company operates in patent licensing and enforcement business segment.

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