Acacia Research Corp (ACTG) was Upgraded by Northland Capital to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Northland Capital advised their investors in a research report released on May 23, 2016.
On the company’s financial health, Acacia Research Corp reported $0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.14. The company had revenue of $24.72 million for the quarter, 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 $4.71 and hit $5.02 on the upside on Friday, eventually ending the session at $4.98, with a gain of 7.33% or 0.34 points. The heightened volatility saw the trading volume jump to 7,86,521 shares. Company has a market cap of $250,982 M.
In a different news, on May 20, 2016, G Louis Iii Graziadio (director) purchased 98,887 shares at $4.59 per share price. According to the SEC, on May 19, 2016, Frank E. Iii Walsh (director) purchased 40,000 shares at $4.64 per share price. On Apr 27, 2016, Marvin E Key (CEO) purchased 55,000 shares at $4.15 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.