Shares of Acacia Research Corp. (NASDAQ:ACTG) dropped 2.8% during trading on Thursday . The stock traded as low as $4.51 and last traded at $4.58, with a volume of 247,265 shares changing hands. The stock had previously closed at $4.71.

ACTG has been the subject of several analyst reports. Northland Securities raised Acacia Research Corp. from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $5.20 to $7.00 in a research note on Monday, May 23rd. Zacks Investment Research raised Acacia Research Corp. from a “sell” rating to a “hold” rating in a research note on Monday, June 13th.

The firm has a 50-day moving average price of $4.69 and a 200 day moving average price of $4.18. The firm’s market cap is $232.83 million.

In other news, CEO Marvin E. Key bought 55,000 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were purchased at an average price of $4.15 per share, with a total value of $228,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 190,833 shares in the company, valued at $791,956.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Louis Graziadio III bought 116,174 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average cost of $4.61 per share, for a total transaction of $535,562.14. Following the acquisition, the director now owns 307,334 shares of the company’s stock, valued at $1,416,809.74. The disclosure for this purchase can be found here.

A hedge fund recently bought a new stake in Acacia Research Corp. stock. LLBH Private Wealth Management LLC bought a new stake in Acacia Research Corp. (NASDAQ:ACTG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 336,255 shares of the company’s stock, valued at approximately $1,443,000. Acacia Research Corp. accounts for about 0.8% of LLBH Private Wealth Management LLC’s portfolio, making the stock its 14th largest position. LLBH Private Wealth Management LLC owned approximately 0.66% of Acacia Research Corp. as of its most recent filing with the SEC.

Acacia Research Corporation, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Company operates in patent licensing and enforcement business segment.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.