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

ACTG has been the topic of several research analyst reports. Barclays PLC raised their price objective on Acacia Research Corp. from $4.00 to $6.00 and gave the company an “underweight” rating in a research note on Friday, July 29th. Northland Securities upgraded 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, Zacks Investment Research upgraded Acacia Research Corp. from a “hold” rating to a “strong-buy” rating and set a $6.75 target price for the company in a research report on Tuesday, August 2nd.

The stock’s market capitalization is $295.75 million. The company’s 50-day moving average is $5.48 and its 200-day moving average is $4.57.

Acacia Research Corp. (NASDAQ:ACTG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.20. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company 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% compared to the same quarter last year. Analysts anticipate that Acacia Research Corp. will post $0.47 EPS for the current fiscal year.

In related news, Director G Louis Graziadio III acquired 38,038 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were bought at an average cost of $5.82 per share, for a total transaction of $221,381.16. Following the purchase, the director now owns 410,767 shares in the company, valued at approximately $2,390,663.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank E. Walsh III acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were bought at an average price of $4.66 per share, for a total transaction of $233,000.00. Following the completion of the purchase, the director now owns 250,000 shares in the company, valued at approximately $1,165,000. 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 Acacia Research Corp. (NASDAQ:ACTG) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter.

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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