In yesterday’s Wall Street session, Acacia Research Corporation (NASDAQ:ACTG) shares traded at $3.94, up 1.03% from the previous session.
As of this writing, 1 analysts cover Acacia Research Corporation (NASDAQ:ACTG). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $8.00 and a low of $8.00, we find $8.00. Given the previous closing price of $3.90, this indicates a potential upside of 105.13 percent. ACTG stock price is now -1.38% away from the 50-day moving average and -9.65% away from the 200-day moving average. The market capitalization of the company currently stands at $150.35M.
There are 0 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $8.00 as their price target over the next twelve months.
With the price target of $4, Craig Hallum recently initiated with Buy rating for Acacia Research Corporation (NASDAQ: ACTG). On July 29, 2016, Barclays reiterated its ‘Underweight’ rating on the stock by increasing its target price from $4 to quote $6, while ‘Northland Capital’ rates the stock as ‘Outperform’.
In other news, Booth Marc W., Chief IP Officer sold 6,283 shares of the company’s stock on Dec 20. The stock was sold for $29,600 at an average price of $4.71. Upon completion of the transaction, the Chief IP Officer now directly owns 219,684 shares in the company, valued at $0.87 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 17, General Counsel Soncini Jason W. bought 11,000 shares of the business’s stock. A total of $55,585 was incurred on buying the stock at an average price of $5.05. This leaves the insider owning 78,500 shares of the company worth $0.31 million. Insiders disposed of 281,691 shares of company stock worth roughly $1.11 million over the past 1 year. A total of 2.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ACTG stock. A new stake in Acacia Research Corporation shares was purchased by FIRST TRUST ADVISORS LP during the first quarter worth $397,000. FRANKLIN RESOURCES INC invested $205,000 in shares of ACTG during the first quarter. In the first quarter, GSA CAPITAL PARTNERS LLP acquired a new stake in Acacia Research Corporation valued at approximately $167,000. MAVEN SECURITIES LTD acquired a new stake in ACTG for approximately $79,000. O’SHAUGHNESSY ASSET MANAGEMENT, LLC purchased a new stake in ACTG valued at around $63,000 in the second quarter.
Tuesday morning saw Acacia Research Corporation (NASDAQ: ACTG) opened at $4.1300. During the past 12 months, Acacia Research Corporation has had a low of $3.30 and a high of $5.82. As of last week, the company has a debt-to-equity ratio of 0.48, a current ratio of 3.70, and a quick ratio of 3.60.
The company reported revenue of $15.88 million for the quarter, compared to $1.58 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 903.67 percent.
Moreover, the firm recently paid out its quarterly dividend on 11/30/2015. Investors who held shares on 11/06/2015 were paid a $0.125 dividend.