The stock of Acacia Research Corp (NASDAQ:ACTG) is a huge mover today! The stock increased 3.33% or $0.21 during the last trading session, hitting $6.52. About 405,566 shares traded hands. Acacia Research Corp (NASDAQ:ACTG) has risen 111.74% since February 26, 2016 and is uptrending. It has outperformed by 101.32% the S&P500.
The move comes after 5 months positive chart setup for the $316.95M company. It was reported on Oct, 1 by Barchart.com. We have $14.08 PT which if reached, will make NASDAQ:ACTG worth $367.66M more.
Analysts await Acacia Research Corp (NASDAQ:ACTG) to report earnings on October, 27. They expect $0.02 earnings per share, up 107.41% or $0.29 from last year’s $-0.27 per share. ACTG’s profit will be $972,239 for 81.50 P/E if the $0.02 EPS becomes a reality. After $0.20 actual earnings per share reported by Acacia Research Corp for the previous quarter, Wall Street now forecasts -90.00% negative EPS growth.
Acacia Research Corp (NASDAQ:ACTG) Ratings Coverage
Out of 3 analysts covering Acacia Research (NASDAQ:ACTG), 2 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 67% are positive. Acacia Research has been the topic of 6 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The firm has “Underweight” rating given on Tuesday, January 5 by Barclays Capital. On Monday, May 23 the stock rating was upgraded by Northland Capital to “Outperform”. On Friday, July 29 the stock rating was maintained by Barclays Capital with “Underweight”. The rating was maintained by Lake Street with “Buy” on Wednesday, December 23.
According to Zacks Investment Research, “Acacia Research Corporation, through its subsidiaries, develops, acquires, and licenses patented technologies. It assists patent owners with the prosecution and development of their patent portfolios, protection of their patented inventions from unauthorized use, generation of licensing revenue from users of their patented technologies and enforcement against unauthorized users of their patented technologies. Acacia Research Corporation is based in Newport Beach, California.”
Insitutional Activity: The institutional sentiment decreased to 0.65 in 2016 Q2. Its down 0.55, from 1.2 in 2016Q1. The ratio is negative, as 12 funds sold all Acacia Research Corp shares owned while 39 reduced positions. 14 funds bought stakes while 19 increased positions. They now own 34.15 million shares or 17.09% less from 41.19 million shares in 2016Q1.
Tradewinds Cap Lc has 0% invested in the company for 750 shares. Fuller & Thaler Asset Management has 616,821 shares for 0.05% of their US portfolio. Axa has 27,600 shares for 0% of their US portfolio. Parametric Portfolio Ltd Liability Com last reported 1.23 million shares in the company. Joel Isaacson And last reported 1,000 shares in the company. Neuberger Berman Group Inc Ltd Liability Corporation has 0% invested in the company for 17,251 shares. Walleye Trading Limited Liability has 13,724 shares for 0% of their US portfolio. Weiss Multi holds 0.04% or 125,000 shares in its portfolio. Metropolitan Life Insur Company Ny accumulated 39,942 shares or 0% of the stock. Alliancebernstein Lp holds 0% or 22,841 shares in its portfolio. Credit Suisse Ag holds 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG) for 32,996 shares. Pnc Svcs Inc has invested 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). Price T Rowe Assoc Inc Md has invested 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). Tiaa Cref Investment Management Lc holds 232,644 shares or 0% of its portfolio. Creative Planning has 3,080 shares for 0% of their US portfolio.
Insider Transactions: Since April 25, 2016, the stock had 21 insider purchases, and 0 sales for $3.83 million net activity. Walsh Frank E. III had bought 40,000 shares worth $199,828 on Thursday, June 9. 38,038 Acacia Research Corp (NASDAQ:ACTG) shares with value of $221,381 were bought by GRAZIADIO G LOUIS III. Another trade for 55,000 shares valued at $228,058 was bought by Key Marvin E.
More important recent Acacia Research Corp (NASDAQ:ACTG) news were published by: Seekingalpha.com which released: “Acacia Research: Contortions Cause Head-Scratching” on September 23, 2016, also Seekingalpha.com published article titled: “Acacia Research: The World Of Patents Is Not For Everybody”, Businesswire.com published: “Robbins Arroyo LLP: Acquisition of Acacia Research Corporation (ACTG) by …” on March 14, 2016. More interesting news about Acacia Research Corp (NASDAQ:ACTG) was released by: Ocbj.com and their article: “Acacia-Veritone Deal Could Hit $50M” with publication date: August 23, 2016.
ACTG Company Profile
Acacia Research Corporation, incorporated on October 8, 1999, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Firm operates in patent licensing and enforcement business segment. The Company’s subsidiaries generate revenues from the granting of intellectual property rights for the use of patented technologies that its subsidiaries control or own.
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