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.
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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