Acacia Research Corporation (NASDAQ:ACTG)’s share price hit a new 52-week low on Wednesday . The company traded as low as $3.18 and last traded at $3.18, with a volume of 348,150 shares changing hands. The stock had previously closed at $3.25.

A number of equities analysts have weighed in on ACTG shares. Northland Securities set a $8.00 target price on shares of Acacia Research Corporation and gave the company a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research raised shares of Acacia Research Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Barclays PLC reaffirmed a “sell” rating and set a $5.00 target price on shares of Acacia Research Corporation in a research note on Sunday, May 7th. Finally, ValuEngine downgraded shares of Acacia Research Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd.

The firm’s market capitalization is $156.55 million. The firm’s 50-day moving average price is $3.94 and its 200 day moving average price is $4.92.

Acacia Research Corporation (NASDAQ:ACTG) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.25. Acacia Research Corporation had a negative net margin of 25.64% and a negative return on equity of 1.03%. The company had revenue of $16.46 million for the quarter, compared to analyst estimates of $5 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Acacia Research Corporation’s revenue was down 60.2% on a year-over-year basis. On average, analysts expect that Acacia Research Corporation will post $0.02 EPS for the current fiscal year.

In related news, insider G Louis Graziadio III purchased 97,445 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average cost of $4.99 per share, for a total transaction of $486,250.55. Following the completion of the transaction, the insider now directly owns 476,701 shares in the company, valued at $2,378,737.99. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.67% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in shares of Acacia Research Corporation during the second quarter worth $268,000. CWM LLC boosted its position in shares of Acacia Research Corporation by 5.5% in the second quarter. CWM LLC now owns 1,847,096 shares of the business services provider’s stock worth $7,573,000 after buying an additional 95,957 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Acacia Research Corporation by 21.3% in the first quarter. Goldman Sachs Group Inc. now owns 134,519 shares of the business services provider’s stock worth $773,000 after buying an additional 23,588 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of Acacia Research Corporation by 41.5% in the first quarter. Tudor Investment Corp ET AL now owns 96,104 shares of the business services provider’s stock worth $553,000 after buying an additional 28,164 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Acacia Research Corporation by 10.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 38,344 shares of the business services provider’s stock worth $220,000 after buying an additional 3,784 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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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.

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