Acacia Research Corporation (NASDAQ:ACTG) Sees Significant Increase in Short Interest

Acacia Research Corporation (NASDAQ:ACTG) saw a significant growth in short interest in September. As of September 29th, there was short interest totalling 2,238,013 shares, a growth of 39.4% from the September 15th total of 1,605,603 shares. Based on an average daily trading volume, of 1,950,194 shares, the short-interest ratio is currently 1.1 days. Currently, 4.6% of the shares of the stock are short sold.

In other Acacia Research Corporation news, Director G Louis Graziadio III bought 22,600 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average price of $3.95 per share, with a total value of $89,270.00. Following the completion of the purchase, the director now owns 545,951 shares in the company, valued at approximately $2,156,506.45. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank E. Walsh III bought 25,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $3.98 per share, for a total transaction of $99,500.00. Following the purchase, the director now owns 383,961 shares of the company’s stock, valued at approximately $1,528,164.78. The disclosure for this purchase can be found here. Insiders purchased 147,250 shares of company stock worth $520,303 over the last quarter. 2.81% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of ACTG. Wells Fargo & Company MN lifted its position in shares of Acacia Research Corporation by 42.0% in the 1st quarter. Wells Fargo & Company MN now owns 49,812 shares of the business services provider’s stock worth $286,000 after buying an additional 14,739 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Acacia Research Corporation by 3.8% in the 1st quarter. Bank of New York Mellon Corp now owns 239,104 shares of the business services provider’s stock valued at $1,375,000 after purchasing an additional 8,773 shares during the last quarter. Schroder Investment Management Group bought a new stake in Acacia Research Corporation in the 1st quarter valued at about $101,000. American International Group Inc. lifted its position in Acacia Research Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 30,748 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 2,028 shares during the last quarter. Finally, AXA bought a new stake in Acacia Research Corporation in the 1st quarter valued at about $186,000. Institutional investors own 71.20% of the company’s stock.

A number of research analysts have recently commented on the company. TheStreet raised Acacia Research Corporation from a “d” rating to a “c-” rating in a research note on Thursday. ValuEngine lowered Acacia Research Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered Acacia Research Corporation from a “hold” rating to a “strong sell” rating in a report on Thursday, August 3rd. Finally, Northland Securities set a $8.00 price target on Acacia Research Corporation and gave the company a “buy” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.50.

Shares of Acacia Research Corporation (NASDAQ:ACTG) opened at 4.35 on Friday. Acacia Research Corporation has a 12-month low of $2.90 and a 12-month high of $7.68. The stock’s market cap is $220.10 million. The firm’s 50-day moving average price is $4.23 and its 200-day moving average price is $4.15.

Acacia Research Corporation (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, July 27th. The business services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.25). Acacia Research Corporation had a negative return on equity of 1.06% and a negative net margin of 25.64%. The business had revenue of $16.46 million during the quarter, compared to the consensus estimate of $5.00 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The company’s quarterly revenue was down 60.2% compared to the same quarter last year. On average, analysts forecast that Acacia Research Corporation will post $0.02 EPS for the current fiscal year.

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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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