Acacia Research Corp. (NASDAQ:ACTG)’s share price dropped 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 changing hands. The stock had previously closed at $6.22.

ACTG has been the topic of several recent research reports. Barclays PLC increased 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. Northland Securities raised shares of Acacia Research Corp. from a “market perform” rating to an “outperform” rating and increased their price target for the company from $5.20 to $7.00 in a research report on Monday, May 23rd. Finally, Zacks Investment Research raised shares of Acacia Research Corp. from a “hold” rating to a “strong-buy” rating and set a $6.75 price target for the company in a research report on Tuesday, August 2nd.

The stock’s market capitalization is $306.83 million. The firm’s 50 day moving average is $5.21 and its 200 day moving average is $4.46.

Acacia Research Corp. (NASDAQ:ACTG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.23 earnings per share for the quarter, beating the 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. During the same period in the prior year, the firm earned $0.25 EPS. Acacia Research Corp.’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that Acacia Research Corp. will post $0.47 earnings per share for the current fiscal year.

In related news, Director G Louis Graziadio III bought 8,729 shares of the stock in a transaction dated Monday, August 8th. The shares were purchased at an average price of $5.97 per share, with a total value of $52,112.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank E. Walsh III bought 40,000 shares of the stock in a transaction dated Thursday, June 9th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the acquisition, the director now directly owns 200,000 shares of the company’s stock, 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 increased its stake in Acacia Research Corp. (NASDAQ:ACTG) by 16.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

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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