Acacia Research Corp. (NASDAQ:ACTG) shares were down 2.8% during mid-day trading on Friday . The stock traded as low as $5.85 and last traded at $5.89, with a volume of 288,275 shares. The stock had previously closed at $6.06.

Several analysts have issued reports on ACTG shares. Zacks Investment Research raised Acacia Research Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Northland Securities raised Acacia Research Corp. from a “market perform” rating to an “outperform” rating and increased their target price for the company from $5.20 to $7.00 in a research report on Monday, May 23rd. Finally, Barclays PLC increased their target price on Acacia Research Corp. from $4.00 to $6.00 and gave the company an “underweight” rating in a research report on Friday, July 29th.

The stock’s 50 day moving average is $5.43 and its 200 day moving average is $4.55. The company’s market cap is $295.75 million.

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

In other news, Director G Louis Graziadio III purchased 38,038 shares of Acacia Research Corp. stock in a transaction dated Friday, August 5th. The shares were purchased at an average price of $5.82 per share, with a total value of $221,381.16. Following the transaction, the director now owns 410,767 shares in the company, valued at $2,390,663.94. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank E. Walsh III purchased 40,000 shares of Acacia Research Corp. stock in a transaction dated Thursday, June 9th. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the transaction, the director now owns 200,000 shares in the company, valued at approximately $1,000,000. The disclosure for this purchase can be found here.

A hedge fund recently raised its stake in Acacia Research Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Acacia Research Corp. (NASDAQ:ACTG) by 16.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,898 shares of the company’s stock after buying an additional 105,977 shares during the period. Dimensional Fund Advisors LP owned about 1.44% of Acacia Research Corp. worth $3,140,000 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.

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