Acacia Research (ACTG) Issues Quarterly Earnings Results, Beats Expectations By $0.49 EPS

Acacia Research (NASDAQ:ACTG) released its quarterly earnings results on Wednesday. The business services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.49, Morningstar.com reports. Acacia Research had a negative net margin of 237.71% and a negative return on equity of 21.97%.

Acacia Research stock opened at $3.15 on Thursday. Acacia Research has a 52-week low of $2.75 and a 52-week high of $4.40.

In other news, Director Alfred Victor Jr. Tobia purchased 9,654 shares of the stock in a transaction on Saturday, December 7th. The stock was purchased at an average price of $3.00 per share, for a total transaction of $28,962.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.04% of the stock is currently owned by company insiders.



Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of Acacia Research by 99.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,639 shares of the business services provider’s stock valued at $4,671,000 after acquiring an additional 729,381 shares in the last quarter. Leisure Capital Management bought a new stake in shares of Acacia Research in the 3rd quarter valued at $104,000. PEAK6 Investments LLC bought a new stake in shares of Acacia Research in the 3rd quarter valued at $223,000. AQR Capital Management LLC increased its stake in shares of Acacia Research by 21.9% in the 3rd quarter. AQR Capital Management LLC now owns 185,529 shares of the business services provider’s stock valued at $594,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Acacia Research by 67.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,249,732 shares of the business services provider’s stock valued at $7,199,000 after acquiring an additional 909,195 shares in the last quarter. Hedge funds and other institutional investors own 61.64% of the company’s stock.

Separately, ValuEngine upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a report on Monday, February 4th.

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About Acacia Research

Acacia Research Corporation, together with its subsidiaries, invests in, licenses, and enforces 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 through the filing of patent infringement litigation.

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Earnings History for Acacia Research (NASDAQ:ACTG)

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