Shares of Acacia Research Co. (NASDAQ:ACTG – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.09 and traded as high as $5.03. Acacia Research shares last traded at $4.98, with a volume of 137,295 shares changing hands.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Craig Hallum raised their price target on shares of Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, March 15th. StockNews.com raised shares of Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, March 18th.
View Our Latest Stock Report on ACTG
Acacia Research Trading Up 0.2 %
Acacia Research (NASDAQ:ACTG – Get Free Report) last released its quarterly earnings data on Thursday, March 14th. The business services provider reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $92.31 million during the quarter. Acacia Research had a net margin of 48.92% and a return on equity of 11.47%.
Institutional Investors Weigh In On Acacia Research
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in shares of Acacia Research during the 3rd quarter worth $39,000. Jump Financial LLC acquired a new stake in Acacia Research during the 3rd quarter worth $41,000. Corsair Capital Management L.P. acquired a new stake in Acacia Research during the 4th quarter worth $59,000. SG Americas Securities LLC acquired a new stake in Acacia Research during the 3rd quarter worth $60,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Acacia Research during the 1st quarter worth $136,000. 86.69% of the stock is owned by hedge funds and other institutional investors.
Acacia Research Company Profile
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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