124 institutions hold shares in Acacia Research Corporation (ACTG), with 3.01M shares held by insiders accounting for 6.11% while institutional investors hold 78.68% of the company’s shares. The shares outstanding are 48.51M, and float is at 46.31M with Short Float at 3.78%. Institutions hold 73.87% of the Float.
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The top institutional shareholder in the company is Renaissance Technologies, LLC with over 2.82 million shares valued at $11.11 million. The investor’s holdings represent 5.72% of the ACTG Shares outstanding. As of Dec 30, 2020, the second largest holder is Invesco Ltd. with 2.56 million shares valued at $10.07 million to account for 5.19% of the shares outstanding. The other top investors are Blackrock Inc. which holds 2.54 million shares representing 5.16% and valued at over $10.02 million, while ArrowMark Colorado Holdings LLC holds 4.91% of the shares totaling 2.42 million with a market value of $9.53 million.
Acacia Research Corporation (NASDAQ: ACTG) is 46.70% higher on its value in year-to-date trading and has touched a low of $2.22 and a high of $9.09 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ACTG stock was last observed hovering at around $5.45 in the last trading session, with the day’s gains setting it 0.33% off its average median price target of $8.00 for the next 12 months. It is also 27.75% off the consensus price target high of $8.00 offered by 1 analysts, but current levels are 27.75% higher than the price target low of $8.00 for the same period.
Currently trading at $5.78, the stock is -5.90% and -13.90% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.44 million and changing 6.06% at the moment leaves the stock 23.63% off its SMA200. ACTG registered 119.77% gain for a year compared to 6-month gain of 80.63%. The firm has a 50-day simple moving average (SMA 50) of $6.76 and a 200-day simple moving average (SMA200) of $4.83.
The stock witnessed a -1.53% loss in the last 1 month and extending the period to 3 months gives it a 1.58%, and is -2.36% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.22% over the week and 6.44% over the month.
Acacia Research Corporation (ACTG) has around 20 employees, a market worth around $287.73M and $29.80M in sales. Current P/E ratio is 3.73. Distance from 52-week low is 159.78% and -36.41% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.60%).
Acacia Research Corporation (ACTG) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Acacia Research Corporation (ACTG) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Acacia Research Corporation is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $3.75M over the same period.The EPS is expected to grow by 549.20% this year, but quarterly earnings will post -49.60% year-over-year.
Acacia Research Corporation (ACTG) Insider Activity
A total of 7 insider transactions have happened at Acacia Research Corporation (ACTG) in the last six months, with sales accounting for 4 and purchases happening 3 times. The most recent transaction is an insider sale by Booth Marc W., the company’s Chief IP Officer. SEC filings show that Booth Marc W. sold 5,565 shares of the company’s common stock on Dec 18 at a price of $4.09 per share for a total of $22785.0. Following the sale, the insider now owns 0.2 million shares.
Acacia Research Corporation disclosed in a document filed with the SEC on Nov 09 that Booth Marc W. (Chief IP Officer) sold a total of 4,726 shares of the company’s common stock. The trade occurred on Nov 09 and was made at $3.61 per share for $17070.0. Following the transaction, the insider now directly holds 0.2 million shares of the ACTG stock.
Still, SEC filings show that on Sep 08, OCONNELL MAUREEN (Director) acquired 13,470 shares at an average price of $3.77 for $50845.0. The insider now directly holds 138,914 shares of Acacia Research Corporation (ACTG).