Acacia Research (NASDAQ:ACTG) Reaches New 12-Month High After Insider Buying Activity

Acacia Research Co. (NASDAQ:ACTGGet Free Report) shares hit a new 52-week high during mid-day trading on Monday following insider buying activity. The stock traded as high as $5.54 and last traded at $5.49, with a volume of 209884 shares traded. The stock had previously closed at $5.38.

Specifically, CEO Martin D. Jr. Mcnulty acquired 14,534 shares of Acacia Research stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $5.25 per share, with a total value of $76,303.50. Following the completion of the purchase, the chief executive officer now owns 193,699 shares of the company’s stock, valued at $1,016,919.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ACTG shares. Craig Hallum increased their target price on shares of Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, March 15th. StockNews.com upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a report on Monday, March 18th.

Read Our Latest Stock Report on ACTG

Acacia Research Trading Up 1.3 %

The company has a quick ratio of 21.02, a current ratio of 21.40 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average price is $5.01 and its two-hundred day moving average price is $4.29. The company has a market capitalization of $545.11 million, a PE ratio of 15.22 and a beta of 0.50.

Acacia Research (NASDAQ:ACTGGet Free Report) last posted its earnings results on Thursday, May 9th. The business services provider reported $0.06 earnings per share for the quarter. Acacia Research had a net margin of 40.89% and a return on equity of 13.02%. The company had revenue of $24.32 million during the quarter.

Institutional Trading of Acacia Research

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Acacia Research by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock worth $11,980,000 after buying an additional 13,692 shares during the period. Formidable Asset Management LLC lifted its holdings in Acacia Research by 1.6% in the third quarter. Formidable Asset Management LLC now owns 1,755,935 shares of the business services provider’s stock worth $6,409,000 after buying an additional 27,078 shares during the period. Roumell Asset Management LLC lifted its holdings in Acacia Research by 22.2% in the third quarter. Roumell Asset Management LLC now owns 727,463 shares of the business services provider’s stock worth $2,655,000 after buying an additional 132,112 shares during the period. Toroso Investments LLC lifted its holdings in shares of Acacia Research by 8.5% during the third quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock valued at $2,023,000 after purchasing an additional 43,361 shares during the last quarter. Finally, Krilogy Financial LLC lifted its holdings in shares of Acacia Research by 74.1% during the first quarter. Krilogy Financial LLC now owns 470,000 shares of the business services provider’s stock valued at $2,505,000 after purchasing an additional 200,000 shares during the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

About Acacia Research

(Get Free Report)

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.

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