Acacia Research Corporation (NASDAQ:ACTG) shot up 11.3% during trading on Thursday following insider buying activity. The company traded as high as $3.60 and last traded at $3.45, with a volume of 838,842 shares trading hands. The stock had previously closed at $3.10.

Specifically, Director G Louis Graziadio III purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average price of $3.08 per share, for a total transaction of $30,800.00. Following the transaction, the director now owns 486,701 shares of the company’s stock, valued at $1,499,039.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 32,894 shares of company stock worth $102,594 in the last 90 days. Corporate insiders own 2.81% of the company’s stock.

A number of brokerages have recently issued reports on ACTG. Zacks Investment Research upgraded shares of Acacia Research Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Barclays PLC reiterated a “sell” rating and issued a $5.00 price objective on shares of Acacia Research Corporation in a research note on Sunday, May 7th. ValuEngine lowered shares of Acacia Research Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Northland Securities set a $8.00 price objective on shares of Acacia Research Corporation and gave the company a “buy” rating in a research note on Monday, July 10th.

The company’s market capitalization is $166.97 million. The firm’s 50 day moving average is $3.53 and its 200-day moving average is $4.62.

Acacia Research Corporation (NASDAQ:ACTG) last issued its earnings results on Thursday, July 27th. The business services provider reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.25. Acacia Research Corporation had a negative return on equity of 1.06% and a negative net margin of 25.64%. The firm had revenue of $16.46 million during the quarter, compared to analysts’ expectations of $5 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Acacia Research Corporation’s quarterly revenue was down 60.2% compared to the same quarter last year. Equities research analysts expect that Acacia Research Corporation will post $0.02 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of ACTG. The Manufacturers Life Insurance Company boosted its stake in shares of Acacia Research Corporation by 11.0% in the second quarter. The Manufacturers Life Insurance Company now owns 45,910 shares of the business services provider’s stock valued at $188,000 after buying an additional 4,553 shares in the last quarter. State Street Corp boosted its stake in shares of Acacia Research Corporation by 4.7% in the second quarter. State Street Corp now owns 902,295 shares of the business services provider’s stock valued at $3,701,000 after buying an additional 40,245 shares in the last quarter. Sii Investments Inc. WI boosted its stake in shares of Acacia Research Corporation by 113.9% in the second quarter. Sii Investments Inc. WI now owns 36,740 shares of the business services provider’s stock valued at $152,000 after buying an additional 19,560 shares in the last quarter. Osmium Partners LLC purchased a new stake in shares of Acacia Research Corporation during the second quarter valued at $764,000. Finally, Voya Investment Management LLC boosted its stake in shares of Acacia Research Corporation by 22.0% in the second quarter. Voya Investment Management LLC now owns 29,044 shares of the business services provider’s stock valued at $119,000 after buying an additional 5,231 shares in the last quarter. Institutional investors and hedge funds own 73.58% of the company’s stock.

WARNING: “Acacia Research Corporation (ACTG) Stock Price Up 11.3% After Insider Buying Activity” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/26/acacia-research-corporation-actg-stock-price-up-11-3-after-insider-buying-activity.html.

Acacia Research Corporation Company Profile

Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.

Receive News & Stock Ratings for Acacia Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Research Corporation and related stocks with our FREE daily email newsletter.