TheStreet Upgrades Acacia Research Corporation (ACTG) to “C-“

Acacia Research Corporation (NASDAQ:ACTG) was upgraded by analysts at TheStreet from a “d” rating to a “c-” rating in a report issued on Thursday, October 26th.

ACTG has been the topic of several other research reports. Northland Securities set a $8.00 price target on Acacia Research Corporation and gave the company a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research raised Acacia Research Corporation from a “strong sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, ValuEngine cut Acacia Research Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $6.50.

Acacia Research Corporation (NASDAQ ACTG) opened at $4.00 on Thursday. Acacia Research Corporation has a fifty-two week low of $2.90 and a fifty-two week high of $7.68. The stock has a market capitalization of $202.42, a price-to-earnings ratio of 1.36 and a beta of 1.24.

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In other Acacia Research Corporation news, Director Frank E. Walsh III purchased 25,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $3.98 per share, for a total transaction of $99,500.00. Following the completion of the purchase, the director now directly owns 383,961 shares in the company, valued at $1,528,164.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Louis Graziadio III acquired 22,094 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $3.13 per share, for a total transaction of $69,154.22. Following the acquisition, the director now 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 purchased 147,250 shares of company stock valued at $520,303 over the last quarter. 7.67% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of ACTG. Voya Investment Management LLC grew its holdings in shares of Acacia Research Corporation by 22.0% during the second quarter. Voya Investment Management LLC now owns 29,044 shares of the business services provider’s stock worth $119,000 after purchasing an additional 5,231 shares during the last quarter. KCG Holdings Inc. grew its holdings in shares of Acacia Research Corporation by 51.7% during the first quarter. KCG Holdings Inc. now owns 21,822 shares of the business services provider’s stock worth $125,000 after buying an additional 7,440 shares during the last quarter. Sii Investments Inc. WI grew its holdings in shares of Acacia Research Corporation by 113.9% during the second quarter. Sii Investments Inc. WI now owns 36,740 shares of the business services provider’s stock worth $152,000 after buying an additional 19,560 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Acacia Research Corporation by 105.3% during the second quarter. Alliancebernstein L.P. now owns 37,241 shares of the business services provider’s stock worth $153,000 after buying an additional 19,100 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in shares of Acacia Research Corporation during the third quarter worth about $161,000. 72.28% of the stock is currently 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.

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