Acacia Research Corporation (ACTG) Cut to Sell at ValuEngine

ValuEngine cut shares of Acacia Research Corporation (NASDAQ:ACTG) from a hold rating to a sell rating in a research note published on Wednesday, August 2nd.

Several other equities research analysts have also commented on ACTG. Northland Securities set a $8.00 price target on shares of Acacia Research Corporation and gave the stock a buy rating in a report on Monday, July 10th. Zacks Investment Research raised shares of Acacia Research Corporation from a sell rating to a hold rating in a report on Wednesday, July 5th. Finally, Barclays PLC reissued a sell rating and issued a $5.00 price target on shares of Acacia Research Corporation in a report on Sunday, May 7th.

Acacia Research Corporation (NASDAQ:ACTG) traded down 1.64% on Wednesday, hitting $3.00. 236,457 shares of the stock traded hands. Acacia Research Corporation has a 12 month low of $2.92 and a 12 month high of $7.68. The company’s market capitalization is $151.79 million. The firm has a 50-day moving average price of $3.83 and a 200-day moving average price of $4.82.

Acacia Research Corporation (NASDAQ:ACTG) last issued its quarterly earnings results on Thursday, July 27th. The business services provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.08 by $0.25. The company had revenue of $16.46 million during the quarter, compared to analysts’ expectations of $5 million. Acacia Research Corporation had a negative return on equity of 1.06% and a negative net margin of 25.64%. Acacia Research Corporation’s revenue was down 60.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. Analysts forecast that Acacia Research Corporation will post $0.02 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of Acacia Research Corporation by 7.1% in the first quarter. American International Group Inc. now owns 30,748 shares of the business services provider’s stock valued at $177,000 after buying an additional 2,028 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Acacia Research Corporation during the first quarter valued at about $101,000. Nordea Investment Management AB boosted its stake in shares of Acacia Research Corporation by 23.7% in the first quarter. Nordea Investment Management AB now owns 270,600 shares of the business services provider’s stock valued at $1,556,000 after buying an additional 51,900 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in shares of Acacia Research Corporation by 35.8% in the first quarter. Pacific Ridge Capital Partners LLC now owns 927,985 shares of the business services provider’s stock valued at $5,336,000 after buying an additional 244,525 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Acacia Research Corporation during the first quarter valued at about $136,000. 75.90% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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