Acacia Research Corp (NASDAQ:ACTG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday. They currently have a $14.30 price objective on the stock. Zacks‘s price target suggests a potential downside of 4.79% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company reiterated a “positive” rating on shares of Acacia Research Corp in a research note on Thursday, May 15th. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Acacia Research Corp in a research note on Tuesday, April 22nd. They now have a $20.50 price target on the stock. Finally, analysts at Cantor Fitzgerald initiated coverage on shares of Acacia Research Corp in a research note on Monday, April 21st. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Acacia Research Corp has an average rating of “Hold” and an average price target of $21.36.
Shares of Acacia Research Corp (NASDAQ:ACTG) traded down 0.93% on Thursday, hitting $14.88. The stock had a trading volume of 162,827 shares. Acacia Research Corp has a 52-week low of $12.23 and a 52-week high of $25.74. The stock has a 50-day moving average of $16.06 and a 200-day moving average of $14.84. The company’s market cap is $744.9 million.
Acacia Research Corp (NASDAQ:ACTG) last announced its earnings results on Thursday, April 17th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.25 by $0.36. The company had revenue of $12.58 million for the quarter, compared to the consensus estimate of $238.48 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was down 83.7% on a year-over-year basis. On average, analysts predict that Acacia Research Corp will post $0.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Thursday, May 1st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, April 29th.
In other Acacia Research Corp news, CEO Matthew Vella sold 24,446 shares of the stock on the open market in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $14.84, for a total transaction of $362,778.64. Following the sale, the chief executive officer now directly owns 214,246 shares of the company’s stock, valued at approximately $3,179,411. The sale was disclosed in a document filed with the SEC, which is available at this link.
Acacia Research Corporation through its operating subsidiaries, acquires, develops, licenses and enforces patented technologies.
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