Market Runner: Could Acacia Research Corp Lose its Strength? The Stock Reaches 52-Week High

Market Runner: Could Acacia Research Corp Lose its Strength? The Stock Reaches 52 Week High

The stock of Acacia Research Corp (NASDAQ:ACTG) hit a new 52-week high and has $16.33 target or 131.00% above today’s $7.07 share price. The 8 months bullish chart indicates low risk for the $373.51 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $16.33 price target is reached, the company will be worth $489.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 421,649 shares traded hands. Acacia Research Corp (NASDAQ:ACTG) has risen 66.67% since April 19, 2016 and is uptrending. It has outperformed by 62.81% the S&P500.

Acacia Research Corp (NASDAQ:ACTG) Ratings Coverage

Out of 3 analysts covering Acacia Research (NASDAQ:ACTG), 2 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 67% are positive. $12 is the highest target while $4 is the lowest. The $5.97 average target is -15.56% below today’s ($7.07) stock price. Acacia Research has been the topic of 6 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The stock of Acacia Research Corp (NASDAQ:ACTG) earned “Outperform” rating by Northland Capital on Monday, May 23. As per Friday, July 29, the company rating was maintained by Barclays Capital. The rating was downgraded by Barclays Capital on Tuesday, January 5 to “Underweight”. The stock has “Buy” rating given by Lake Street on Wednesday, December 23.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.14 in Q2 2016. Its up 0.49, from 0.65 in 2016Q1. The ratio increased, as 12 funds sold all Acacia Research Corp shares owned while 39 reduced positions. 14 funds bought stakes while 19 increased positions. They now own 34.15 million shares or 17.09% less from 41.19 million shares in 2016Q1.
Bnp Paribas Arbitrage Sa has invested 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). D E Shaw & Inc has invested 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). Springbok Cap Mngmt Ltd has 13,638 shares for 0.01% of their US portfolio. California Public Employees Retirement Sys, a California-based fund reported 107,700 shares. State Board Of Administration Of Florida Retirement Systems has 0% invested in the company for 43,944 shares. Deprince Race & Zollo Incorporated holds 52,689 shares or 0% of its portfolio. Snow Cap Mngmt L P holds 0.36% or 1.73M shares in its portfolio. Princeton Alpha Management L P has invested 0.01% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). The Ohio-based Huntington Fincl Bank has invested 0% in Acacia Research Corp (NASDAQ:ACTG). Raymond James Associate, a Florida-based fund reported 22,500 shares. Ellington Management Gru Ltd, a Connecticut-based fund reported 39,631 shares. Pacific Ridge Partners Limited Liability Co reported 723,480 shares or 1.44% of all its holdings. Envestnet Asset has 18,945 shares for 0% of their US portfolio. Moreover, Blackrock has 0% invested in Acacia Research Corp (NASDAQ:ACTG) for 13,821 shares. Sii Inc Wi last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since June 9, 2016, the stock had 5 insider purchases, and 0 selling transactions for $937,985 net activity. GRAZIADIO G LOUIS III also bought $52,110 worth of Acacia Research Corp (NASDAQ:ACTG) shares. $199,828 worth of Acacia Research Corp (NASDAQ:ACTG) was bought by Walsh Frank E. III on Thursday, June 9.

More news for Acacia Research Corp (NASDAQ:ACTG) were recently published by: Businesswire.com, which released: “Acacia Research Corporation Announces Resignation of Matthew Vella as Chief …” on December 22, 2015. Businesswire.com‘s article titled: “Robbins Arroyo LLP: Acquisition of Acacia Research Corporation (ACTG) by …” and published on March 14, 2016 is yet another important article.

ACTG Company Profile

Acacia Research Corporation, incorporated on October 8, 1999, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Firm operates in patent licensing and enforcement business segment. 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.

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