Acacia Research Corporation (NASDAQ:ACTG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Acacia Research Corporation, through its subsidiaries, develops, acquires, and licenses patented technologies. It assists patent owners with the prosecution and development of their patent portfolios, protection of their patented inventions from unauthorized use, generation of licensing revenue from users of their patented technologies and enforcement against unauthorized users of their patented technologies. Acacia Research Corporation is based in Newport Beach, California. “

Several other research firms have also weighed in on ACTG. ValuEngine raised shares of Acacia Research Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays PLC reissued a “sell” rating and issued a $5.00 price target on shares of Acacia Research Corporation in a report on Tuesday. TheStreet raised shares of Acacia Research Corporation from a “d” rating to a “c-” rating in a report on Thursday, October 26th. Finally, Northland Securities set a $8.00 price target on shares of Acacia Research Corporation and gave the stock a “buy” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Acacia Research Corporation has a consensus rating of “Hold” and an average target price of $6.50.

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In other news, Director Frank E. Walsh III purchased 25,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were purchased at an average price of $3.32 per share, with a total value of $83,000.00. Following the transaction, the director now owns 358,961 shares in the company, valued at approximately $1,191,750.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director G Louis Graziadio III purchased 10,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the transaction, the director now owns 486,701 shares in the company, valued at approximately $1,499,039.08. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 147,250 shares of company stock worth $520,303. 7.67% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted its position in shares of Acacia Research Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 30,748 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 2,028 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Acacia Research Corporation by 10.9% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 38,344 shares of the business services provider’s stock valued at $220,000 after acquiring an additional 3,784 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Acacia Research Corporation by 11.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,910 shares of the business services provider’s stock valued at $188,000 after acquiring an additional 4,553 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Acacia Research Corporation by 22.0% during the 2nd quarter. Voya Investment Management LLC now owns 29,044 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 5,231 shares during the last quarter. Finally, KCG Holdings Inc. boosted its position in shares of Acacia Research Corporation by 51.7% during the 1st quarter. KCG Holdings Inc. now owns 21,822 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 7,440 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Acacia Research Corporation Company Profile

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.

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