Latest Stocks: Acacia Research Corp (ACTG) Receives “Sell” Rating from Barclays PLC

Latest Stocks: Acacia Research Corp (ACTG) Receives “Sell” Rating from Barclays PLC

Barclays PLC reiterated their sell rating on shares of Acacia Research Corp (NASDAQ:ACTG) in a report issued on Sunday, May 7th. Barclays PLC currently has a $5.00 price target on the business services provider’s stock.

Separately, Zacks Investment Research downgraded shares of Acacia Research Corp from a hold rating to a sell rating in a research note on Friday, March 17th.

Shares of Acacia Research Corp (NASDAQ:ACTG) opened at 3.90 on Friday. The firm has a 50-day moving average price of $4.77 and a 200-day moving average price of $5.79. The firm’s market capitalization is $197.29 million. Acacia Research Corp has a 1-year low of $3.90 and a 1-year high of $7.68. Acacia Research Corp (NASDAQ:ACTG) last announced its quarterly earnings results on Thursday, May 4th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.14. Acacia Research Corp had a negative net margin of 94.19% and a positive return on equity of 9.53%. The firm had revenue of $8.85 million for the quarter, compared to the consensus estimate of $20 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was down 64.2% on a year-over-year basis. On average, analysts forecast that Acacia Research Corp will post $0.32 EPS for the current fiscal year.

Shares of Acacia Research Corp (NASDAQ:ACTG) opened at 3.90 on Friday. The firm has a 50-day moving average price of $4.77 and a 200-day moving average price of $5.79. The firm’s market capitalization is $197.29 million. Acacia Research Corp has a 1-year low of $3.90 and a 1-year high of $7.68. In related news, Director Frank E. Walsh III acquired 7,335 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were purchased at an average cost of $5.05 per share, for a total transaction of $37,041.75. Following the completion of the acquisition, the director now directly owns 322,197 shares in the company, valued at $1,627,094.85. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider G Louis Graziadio III acquired 97,445 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was bought at an average price of $4.99 per share, for a total transaction of $486,250.55. Following the completion of the acquisition, the insider now owns 476,701 shares of the company’s stock, valued at $2,378,737.99. The disclosure for this purchase can be found here. In the last three months, insiders bought 199,964 shares of company stock worth $1,000,770. 2.81% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in ACTG. James Investment Research Inc. purchased a new stake in shares of Acacia Research Corp during the first quarter worth about $2,769,000. Renaissance Technologies LLC boosted its position in Acacia Research Corp by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,401,800 shares of the business services provider’s stock worth $22,112,000 after buying an additional 418,500 shares during the period. Russell Investments Group Ltd. bought a new position in Acacia Research Corp during the fourth quarter worth approximately $2,408,000. Laurion Capital Management LP bought a new position in Acacia Research Corp during the third quarter worth approximately $1,794,000. Finally, Pacific Ridge Capital Partners LLC boosted its position in Acacia Research Corp by 35.8% in the first quarter. Pacific Ridge Capital Partners LLC now owns 927,985 shares of the business services provider’s stock worth $5,336,000 after buying an additional 244,525 shares during the period. Hedge funds and other institutional investors own 76.59% of the company’s stock. Acacia Research Corp Company Profile

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