Acacia Research Corporation (ACTG) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Acacia Research Corporation (NASDAQ:ACTG) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Other equities research analysts have also recently issued reports about the company. Northland Securities set a $8.00 price target on Acacia Research Corporation and gave the company a buy rating in a research report on Monday, July 10th. TheStreet upgraded Acacia Research Corporation from a d rating to a c- rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Acacia Research Corporation from a sell rating to a hold rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Acacia Research Corporation has an average rating of Hold and a consensus target price of $6.50.

Shares of Acacia Research Corporation (NASDAQ:ACTG) traded down $0.02 during trading on Tuesday, hitting $4.45. The stock had a trading volume of 254,308 shares, compared to its average volume of 504,057. The stock has a market cap of $225.16 million, a PE ratio of 1.51 and a beta of 1.24.

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In other Acacia Research Corporation news, Director Frank E. Walsh III acquired 25,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was bought at an average price of $3.32 per share, with a total value of $83,000.00. Following the completion of the acquisition, the director now owns 358,961 shares of the company’s stock, valued at $1,191,750.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director G Louis Graziadio III acquired 22,094 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average cost of $3.13 per share, with a total value of $69,154.22. Following the acquisition, the director now directly owns 502,995 shares of the company’s stock, valued at approximately $1,574,374.35. The disclosure for this purchase can be found here. Insiders have bought 147,250 shares of company stock valued at $520,303 in the last three months. 2.81% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in Acacia Research Corporation by 1.9% in the second quarter. Renaissance Technologies LLC now owns 3,573,800 shares of the business services provider’s stock worth $14,653,000 after buying an additional 68,200 shares in the last quarter. Mycio Wealth Partners LLC purchased a new stake in Acacia Research Corporation in the third quarter worth approximately $478,000. Osmium Partners LLC purchased a new stake in Acacia Research Corporation in the second quarter worth approximately $764,000. Geode Capital Management LLC boosted its stake in Acacia Research Corporation by 5.6% in the first quarter. Geode Capital Management LLC now owns 379,856 shares of the business services provider’s stock worth $2,184,000 after buying an additional 20,257 shares in the last quarter. Finally, Tudor Investment Corp ET AL boosted its stake in Acacia Research Corporation by 41.5% in the first quarter. Tudor Investment Corp ET AL now owns 96,104 shares of the business services provider’s stock worth $553,000 after buying an additional 28,164 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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