Media headlines about Acacia Research (NASDAQ:ACTG) have been trending somewhat positive on Friday, according to Accern. Accern ranks the sentiment of media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Acacia Research earned a media sentiment score of 0.04 on Accern’s scale. Accern also assigned headlines about the business services provider an impact score of 45.2227872085332 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have effected Accern Sentiment Analysis’s rankings:
- Upcoming Proxy Battle At Acacia Research (seekingalpha.com)
- ICOs – Initial Coin Offerings Raised a Record Amount in First Quarter of 2018 (finyear.com)
- Acacia Research (ACTG) Board Receives Letter from Sidus Investment Management LLC and BLR Partners LP (streetinsider.com)
- Sidus Investment Management and BLR Partners Issue Letter to Board of Acacia Research Corporation (prnewswire.com)
- Acacia Research (ACTG) Upgraded to “Buy” by Zacks Investment Research (americanbankingnews.com)
A number of equities analysts have issued reports on ACTG shares. Zacks Investment Research raised shares of Acacia Research from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, April 2nd. TheStreet lowered shares of Acacia Research from a “c-” rating to a “d” rating in a report on Friday, February 16th. Finally, ValuEngine lowered shares of Acacia Research from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Acacia Research presently has a consensus rating of “Hold” and a consensus price target of $5.67.
ACTG traded up $0.02 during mid-day trading on Friday, hitting $3.57. The stock had a trading volume of 42,067 shares, compared to its average volume of 249,860. The firm has a market cap of $183.60, a PE ratio of 1.20 and a beta of 0.99. Acacia Research has a 1-year low of $2.90 and a 1-year high of $5.50.
Acacia Research (NASDAQ:ACTG) last posted its earnings results on Tuesday, February 13th. The business services provider reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The company had revenue of $3.46 million for the quarter, compared to analyst estimates of $13.40 million. Acacia Research had a net margin of 33.91% and a return on equity of 50.06%. research analysts forecast that Acacia Research will post 0.14 earnings per share for the current fiscal year.
Acacia Research announced that its board has authorized a stock buyback program on Tuesday, February 13th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other news, Director G Louis Graziadio III bought 17,600 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were bought at an average cost of $3.63 per share, for a total transaction of $63,888.00. Following the completion of the acquisition, the director now owns 605,051 shares in the company, valued at approximately $2,196,335.13. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders acquired 63,100 shares of company stock worth $228,688. Company insiders own 2.81% 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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