Acacia Research Corp (ACTG) Releases Earnings Results, Misses Expectations By $-0.09 EPS

Acacia Research Corp (ACTG) reported quarterly earnings results on Thursday, Apr-21-2016. The company reported $0.05 earnings per share for the quarter, missing the analyst consensus estimate by $-0.09. Analysts had a consensus of $0.14. The company posted revenue of $24.72 million in the period, compared to analysts expectations of $20.00 million. The company’s revenue was down -27.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Acacia Research Corp opened for trading at $4.04 and hit $4.14 on the upside on Monday, eventually ending the session at $4.1, with a gain of 1.74% or 0.07 points. The heightened volatility saw the trading volume jump to 2,37,756 shares. Company has a market cap of $207 M.

In a different news, on Mar 21, 2016, Marvin E Key (CEO) purchased 35,000 shares at $3.17 per share price. According to the SEC, on Mar 21, 2016, G Louis Iii Graziadio (director) purchased 74,196 shares at $3.79 per share price. On Dec 3, 2015, Robert L Ii Harris (Executive Chairman) purchased 14,301 shares at $5.86 per share price, according to the Form-4 filing with the securities and exchange commission.

Acacia Research Corporation is a holding company. The Company through its subsidiaries engaged in patent investment prosecution licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Company’s subsidiaries generate revenues from the granting of intellectual property rights for the use of patented technologies that its subsidiaries control or own. Its subsidiaries own or control the rights to multiple patent portfolios which include the United States patents and certain foreign counterparts covering technologies used in a variety of industries. The Company is engaged in licensing and enforcing patented technologies and has licensed over 1430 license agreements across 181 of its patent portfolio licensing and enforcement programs.

Acacia Research Corp

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