Acacia Research Corp (ACTG) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.20. Analysts had a consensus of $0.03. The company posted revenue of $41.40 million in the period, compared to analysts expectations of $22.50 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.
Many Wall Street Analysts have commented on Acacia Research Corp. Acacia Research Corp was Upgraded by Northland Capital to ” Outperform” on May 23, 2016.
Acacia Research Corp opened for trading at $5.06 and hit $5.14 on the upside on Thursday, eventually ending the session at $5.09, with a gain of 1.19% or 0.06 points. The heightened volatility saw the trading volume jump to 3,02,293 shares. Company has a market cap of $257 M.
In a different news, on Jun 9, 2016, Frank E. Iii Walsh (director) purchased 40,000 shares at $5.00 per share price. According to the SEC, on Jun 7, 2016, G Louis Iii Graziadio (director) purchased 74,169 shares at $3.79 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.