Martin D. Jr. Mcnulty Purchases 14,534 Shares of Acacia Research Co. (NASDAQ:ACTG) Stock

Acacia Research Co. (NASDAQ:ACTG) CEO Martin D. Jr. Mcnulty bought 14,534 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average price of $5.25 per share, for a total transaction of $76,303.50. Following the completion of the acquisition, the chief executive officer now directly owns 193,699 shares in the company, valued at $1,016,919.75. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Acacia Research Stock Performance

Shares of ACTG stock opened at $5.66 on Thursday. The firm’s 50 day moving average price is $5.11 and its 200-day moving average price is $4.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.02 and a current ratio of 21.40. Acacia Research Co. has a one year low of $3.43 and a one year high of $5.73. The firm has a market cap of $566.12 million, a P/E ratio of 15.72 and a beta of 0.50.

Acacia Research (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.06 EPS for the quarter. Acacia Research had a net margin of 40.89% and a return on equity of 13.02%. The firm had revenue of $24.32 million for the quarter.

Hedge Funds Weigh In On Acacia Research

Several large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Acacia Research by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock worth $338,000 after acquiring an additional 3,018 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Acacia Research by 41.9% in the 4th quarter. SG Americas Securities LLC now owns 23,244 shares of the business services provider’s stock worth $91,000 after acquiring an additional 6,866 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Acacia Research during the 3rd quarter worth approximately $39,000. Jump Financial LLC purchased a new stake in Acacia Research during the 3rd quarter worth approximately $41,000. Finally, Empowered Funds LLC increased its stake in Acacia Research by 8.1% during the 1st quarter. Empowered Funds LLC now owns 172,476 shares of the business services provider’s stock worth $919,000 after buying an additional 12,950 shares during the period. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Craig Hallum boosted their target price on shares of Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.