Acacia Research (ACTG) Getting Somewhat Favorable Press Coverage, Study Finds

Media headlines about Acacia Research (NASDAQ:ACTG) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Acacia Research earned a news sentiment score of 0.10 on Accern’s scale. Accern also gave media headlines about the business services provider an impact score of 44.6622497244037 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

These are some of the media headlines that may have effected Accern Sentiment Analysis’s scoring:

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Shares of ACTG stock traded down $0.05 during trading hours on Friday, hitting $3.45. The company had a trading volume of 156,638 shares, compared to its average volume of 294,714. The stock has a market cap of $177.23, a P/E ratio of 8.02 and a beta of 1.09. Acacia Research has a 1-year low of $2.90 and a 1-year high of $5.75.

Acacia Research (NASDAQ:ACTG) last announced its earnings results on Tuesday, February 13th. The business services provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $3.46 million for the quarter, compared to the consensus estimate of $13.40 million. Acacia Research had a return on equity of 50.06% and a net margin of 33.91%. research analysts forecast that Acacia Research will post 0.14 earnings per share for the current fiscal year.

Acacia Research announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 13th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

ACTG has been the topic of a number of research reports. Zacks Investment Research upgraded Acacia Research from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Thursday. TheStreet downgraded Acacia Research from a “c-” rating to a “d” rating in a report on Friday, February 16th. Finally, ValuEngine downgraded Acacia Research from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Acacia Research has an average rating of “Hold” and a consensus target price of $5.67.

In related news, Director G Louis Graziadio III bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $3.61 per share, for a total transaction of $108,300.00. Following the acquisition, the director now owns 588,151 shares in the company, valued at approximately $2,123,225.11. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have purchased 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.

Insider Buying and Selling by Quarter for Acacia Research (NASDAQ:ACTG)

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