Latest Stocks: Acacia Research Corp’s (ACTG) Sell Rating Reiterated at Barclays PLC

Latest Stocks: Acacia Research Corp’s (ACTG) Sell Rating Reiterated at Barclays PLC

Barclays PLC reissued their sell rating on shares of Acacia Research Corp (NASDAQ:ACTG) in a research note released on Sunday, May 7th. The brokerage currently has a $5.00 price objective on the business services provider’s stock.

Separately, Zacks Investment Research upgraded shares of Acacia Research Corp from a sell rating to a hold rating in a research report on Thursday, April 6th.

Shares of Acacia Research Corp (ACTG) opened at 3.90 on Friday. The firm’s market capitalization is $197.29 million. Acacia Research Corp has a 52-week low of $3.90 and a 52-week high of $7.68. The company’s 50 day moving average price is $4.77 and its 200 day moving average price is $5.79. Acacia Research Corp (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.14. The company had revenue of $8.85 million for the quarter, compared to the consensus estimate of $20 million. Acacia Research Corp had a negative net margin of 94.19% and a positive return on equity of 9.53%. The firm’s revenue for the quarter was down 64.2% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. Analysts forecast that Acacia Research Corp will post $0.32 earnings per share for the current year.

In other Acacia Research Corp news, Director Frank E. Walsh III purchased 7,335 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were acquired at an average cost of $5.05 per share, for a total transaction of $37,041.75. Following the completion of the transaction, the director now 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 the SEC website. Also, insider G Louis Graziadio III purchased 97,445 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $4.99 per share, for a total transaction of $486,250.55. Following the completion of the transaction, the insider now directly owns 476,701 shares of the company’s stock, valued at approximately $2,378,737.99. The disclosure for this purchase can be found here. Insiders acquired 199,964 shares of company stock worth $1,000,770 over the last quarter. Insiders own 2.81% of the company’s stock. Several hedge funds have recently made changes to their positions in ACTG. Chicago Equity Partners LLC purchased a new stake in shares of Acacia Research Corp during the third quarter valued at approximately $956,000. Alambic Investment Management L.P. increased its stake in shares of Acacia Research Corp by 23.5% in the third quarter. Alambic Investment Management L.P. now owns 288,925 shares of the business services provider’s stock valued at $1,884,000 after buying an additional 55,000 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Acacia Research Corp by 41.1% in the third quarter. Wells Fargo & Company MN now owns 20,073 shares of the business services provider’s stock valued at $131,000 after buying an additional 5,850 shares during the last quarter. Princeton Alpha Management LP increased its stake in shares of Acacia Research Corp by 96.2% in the third quarter. Princeton Alpha Management LP now owns 22,788 shares of the business services provider’s stock valued at $149,000 after buying an additional 11,175 shares during the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Acacia Research Corp during the third quarter valued at approximately $117,000. Hedge funds and other institutional investors own 76.59% of the company’s stock.

Receive News & Ratings for Acacia Research Corp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Acacia Research Corp and related companies with MarketBeat.com’s FREE daily email newsletter.

Related posts

Leave a Comment