Shares of Acacia Research Corp. (NASDAQ:ACTG) fell 2.1% during trading on Thursday . The stock traded as low as $6.05 and last traded at $6.09, with a volume of 289,167 shares. The stock had previously closed at $6.22.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Acacia Research Corp. from a “hold” rating to a “strong-buy” rating and set a $6.75 target price for the company in a report on Tuesday, August 2nd. Northland Securities upgraded shares of 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 report on Monday, May 23rd. Finally, Barclays PLC lifted their target price on shares of Acacia Research Corp. from $4.00 to $6.00 and gave the company an “underweight” rating in a report on Friday, July 29th.

The stock’s market capitalization is $312.88 million. The firm’s 50 day moving average is $5.26 and its 200 day moving average is $4.48.

Acacia Research Corp. (NASDAQ:ACTG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.03 by $0.20. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm had revenue of $41.40 million for the quarter, compared to the consensus estimate of $23.33 million. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts forecast that Acacia Research Corp. will post $0.47 EPS for the current fiscal year.

In related news, Director Frank E. Walsh III bought 50,000 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were acquired at an average cost of $4.66 per share, for a total transaction of $233,000.00. Following the purchase, the director now directly owns 250,000 shares of the company’s stock, valued at $1,165,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank E. Walsh III bought 40,000 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was bought at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the director now directly owns 200,000 shares in the company, valued at $1,000,000. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Acacia Research Corp. stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Acacia Research Corp. (NASDAQ:ACTG) by 154.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 233,700 shares of the company’s stock after buying an additional 141,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.46% of Acacia Research Corp. worth $1,003,000 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.

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.