News articles about Acacia Research (NASDAQ:ACTG) have trended somewhat positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Acacia Research earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned news stories about the business services provider an impact score of 46.8128512483042 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the headlines that may have impacted Accern’s analysis:
- Acacia Research Corporation Issues Letter to Stockholders – Digital Journal (digitaljournal.com)
- Sidus Investment Management and BLR Partners Issue Statement in Response to Acacia Research Corporation (prnewswire.com)
- Sidus Investment Management and BLR Partners Issue Letter to Stockholders of Acacia Research Corporation (prnewswire.com)
- G Louis Graziadio III Acquires 17,600 Shares of Acacia Research Corp (ACTG) Stock (americanbankingnews.com)
Several brokerages recently weighed in on ACTG. Zacks Investment Research cut Acacia Research from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. TheStreet cut Acacia Research from a “c-” rating to a “d” rating in a research note on Friday, February 16th. Finally, ValuEngine lowered Acacia Research from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.75.
Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings data on Tuesday, February 13th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. Acacia Research had a return on equity of 50.06% and a net margin of 33.91%. The firm had revenue of $3.46 million during the quarter, compared to the consensus estimate of $13.40 million. sell-side analysts anticipate that Acacia Research will post 0.14 EPS for the current year.
Acacia Research announced that its board has authorized a share buyback program on Tuesday, February 13th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director G Louis Graziadio III purchased 10,500 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was bought at an average cost of $3.70 per share, with a total value of $38,850.00. Following the purchase, the director now directly owns 598,051 shares of the company’s stock, valued at $2,212,788.70. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 63,100 shares of company stock valued at $228,688 over the last ninety days. Company insiders own 7.67% of the company’s stock.
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About Acacia Research
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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