Acacia Research (NASDAQ:ACTG) Sets New 1-Year High Following Insider Buying Activity

Shares of Acacia Research Co. (NASDAQ:ACTG - Get Free Report) reached a new 52-week high during trading on Monday following insider buying activity. The company traded as high as $5.54 and last traded at $5.49, with a volume of 209884 shares traded. The stock had previously closed at $5.38.

Specifically, CEO Martin D. Jr. Mcnulty acquired 14,534 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $76,303.50. Following the completion of the transaction, the chief executive officer now owns 193,699 shares of the company's stock, valued at approximately $1,016,919.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Jason W. Soncini purchased 5,000 shares of the stock in a transaction dated Friday, May 17th. The stock was acquired at an average cost of $5.36 per share, for a total transaction of $26,800.00. Following the completion of the transaction, the general counsel now directly owns 226,661 shares in the company, valued at approximately $1,214,902.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Martin D. Jr. Mcnulty purchased 14,534 shares of the stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $5.25 per share, with a total value of $76,303.50. Following the completion of the transaction, the chief executive officer now owns 193,699 shares of the company's stock, valued at $1,016,919.75. The disclosure for this purchase can be found here. 1.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ACTG. StockNews.com upgraded Acacia Research from a "sell" rating to a "hold" rating in a research report on Monday, March 18th. Craig Hallum raised their price target on Acacia Research from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, March 15th.

Acacia Research Stock Performance

The stock has a market capitalization of $551.11 million, a PE ratio of 15.31 and a beta of 0.50. The stock has a fifty day moving average of $5.04 and a 200-day moving average of $4.30. The company has a quick ratio of 21.02, a current ratio of 21.40 and a debt-to-equity ratio of 0.02.

Acacia Research (NASDAQ:ACTG - Get Free Report) last released its earnings results on Thursday, May 9th. The business services provider reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $24.32 million during the quarter. Acacia Research had a return on equity of 13.02% and a net margin of 40.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in Acacia Research in the third quarter valued at $39,000. Jump Financial LLC acquired a new stake in Acacia Research in the third quarter valued at $41,000. Corsair Capital Management L.P. acquired a new stake in Acacia Research in the fourth quarter valued at $59,000. SG Americas Securities LLC acquired a new stake in Acacia Research in the third quarter valued at $60,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Acacia Research in the first quarter valued at $136,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

About Acacia Research

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.