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

ACTG has been the subject of a number of research reports. Northland Securities upgraded Acacia Research Corp. from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $5.20 to $7.00 in a research note on Monday, May 23rd. Zacks Investment Research downgraded Acacia Research Corp. from a “buy” rating to a “sell” rating in a research note on Wednesday, April 27th.

The stock has a 50-day moving average of $4.65 and a 200 day moving average of $4.19. The firm’s market capitalization is $241.40 million.

In other news, Director Frank E. Walsh III purchased 50,000 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was bought at an average cost of $4.66 per share, for a total transaction of $233,000.00. Following the completion of the acquisition, the director now directly owns 250,000 shares of the company’s stock, valued at $1,165,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marvin E. Key purchased 55,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $791,956.95. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Acacia Research Corp. stock. Dimensional Fund Advisors LP boosted its position in shares of Acacia Research Corp. (NASDAQ:ACTG) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 731,898 shares of the company’s stock after buying an additional 105,977 shares during the period. Dimensional Fund Advisors LP owned approximately 1.44% of Acacia Research Corp. worth $3,140,000 at the end of the most recent reporting period.

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.

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