Acacia Research Corporation (NASDAQ:ACTG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Acacia Research Corporation, through its subsidiaries, develops, acquires, and licenses patented technologies. It assists patent owners with the prosecution and development of their patent portfolios, protection of their patented inventions from unauthorized use, generation of licensing revenue from users of their patented technologies and enforcement against unauthorized users of their patented technologies. Acacia Research Corporation is based in Newport Beach, California. “

Several other brokerages have also recently issued reports on ACTG. ValuEngine cut shares of Acacia Research Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. TheStreet raised shares of Acacia Research Corporation from a “d” rating to a “c-” rating in a research note on Thursday, October 26th. Finally, Barclays PLC reissued a “sell” rating and issued a $5.00 price objective on shares of Acacia Research Corporation in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Acacia Research Corporation (ACTG) opened at $4.10 on Monday. The company has a market cap of $199.89, a price-to-earnings ratio of 1.34 and a beta of 1.24. Acacia Research Corporation has a 1-year low of $2.90 and a 1-year high of $7.68.

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In related news, Director G Louis Graziadio III bought 22,094 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $3.13 per share, for a total transaction of $69,154.22. Following the transaction, the director now owns 502,995 shares of the company’s stock, valued at $1,574,374.35. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank E. Walsh III bought 25,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were bought at an average price of $3.32 per share, for a total transaction of $83,000.00. Following the completion of the transaction, the director now directly owns 358,961 shares in the company, valued at approximately $1,191,750.52. The disclosure for this purchase can be found here. Insiders acquired a total of 147,250 shares of company stock worth $520,303 over the last three months. 7.67% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Heartland Advisors Inc. boosted its position in shares of Acacia Research Corporation by 2.6% during the 3rd quarter. Heartland Advisors Inc. now owns 4,850,375 shares of the business services provider’s stock worth $22,069,000 after purchasing an additional 122,471 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Acacia Research Corporation by 1.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,573,800 shares of the business services provider’s stock worth $14,653,000 after purchasing an additional 68,200 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Acacia Research Corporation by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,038,565 shares of the business services provider’s stock worth $8,358,000 after purchasing an additional 134,030 shares in the last quarter. CWM LLC boosted its position in shares of Acacia Research Corporation by 5.5% during the 2nd quarter. CWM LLC now owns 1,847,096 shares of the business services provider’s stock worth $7,573,000 after purchasing an additional 95,957 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Acacia Research Corporation by 15.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,366,475 shares of the business services provider’s stock worth $6,217,000 after purchasing an additional 186,418 shares in the last quarter. Institutional investors own 72.28% of the company’s stock.

About Acacia Research Corporation

Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.

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