Notable Mover: Is Buying 52-Week Stock Like Acacia Research Corp a Winning Strategy?

Notable Mover: Is Buying 52 Week Stock Like Acacia Research Corp a Winning Strategy?

The stock of Acacia Research Corp (NASDAQ:ACTG) hit a new 52-week high and has $7.53 target or 6.00% above today’s $7.10 share price. The 7 months bullish chart indicates low risk for the $358.29M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $7.53 price target is reached, the company will be worth $21.50 million 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 203,539 shares traded hands. Acacia Research Corp (NASDAQ:ACTG) has risen 74.94% since April 25, 2016 and is uptrending. It has outperformed by 68.93% the S&P500.

Analysts await Acacia Research Corp (NASDAQ:ACTG) to report earnings on February, 23. They expect $-0.03 earnings per share, down 175.00% or $0.07 from last year’s $0.04 per share. After $0.29 actual earnings per share reported by Acacia Research Corp for the previous quarter, Wall Street now forecasts -110.34% negative EPS growth.

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 -15.92% below today’s ($7.1) stock price. Acacia Research has been the topic of 6 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The rating was upgraded by Northland Capital to “Outperform” on Monday, May 23. Barclays Capital downgraded Acacia Research Corp (NASDAQ:ACTG) rating on Tuesday, January 5. Barclays Capital has “Underweight” rating and $4 price target. The firm earned “Underweight” rating on Friday, July 29 by Barclays Capital. Lake Street maintained Acacia Research Corp (NASDAQ:ACTG) on Wednesday, December 23 with “Buy” rating.

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 2016 Q2. 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.
Neuberger Berman Grp Ltd Liability Co accumulated 0% or 17,251 shares. Blackrock Fund Advsrs has invested 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). Ellington Mngmt Group Inc Limited Liability Com holds 39,631 shares or 0.24% of its portfolio. Loring Wolcott & Coolidge Fiduciary Ltd Liability Partnership Ma has 1,000 shares for 0% of their US portfolio. Ancora Llc accumulated 44,000 shares or 0.02% of the stock. Millennium Limited Liability Corporation has 0% invested in the company for 15,090 shares. Boothbay Fund Mngmt Ltd Liability reported 157,279 shares or 0.33% of all its holdings. Metropolitan Life Insurance Commerce last reported 39,942 shares in the company. Fmr Lc, a Massachusetts-based fund reported 2.26M shares. Geode Mngmt Limited Liability has invested 0% of its portfolio in Acacia Research Corp (NASDAQ:ACTG). Tower Research Lc (Trc) owns 4,273 shares or 0% of their US portfolio. Bard Assoc last reported 12,515 shares in the company. The New York-based Blackrock has invested 0% in Acacia Research Corp (NASDAQ:ACTG). Deprince Race Zollo Incorporated holds 0% or 52,689 shares in its portfolio. Citigroup reported 7,756 shares or 0% of all its holdings.

Insider Transactions: Since June 9, 2016, the stock had 5 buys, and 0 insider sales for $937,985 net activity. The insider Walsh Frank E. III bought 40,000 shares worth $199,828. GRAZIADIO G LOUIS III bought $235,715 worth of Acacia Research Corp (NASDAQ:ACTG) on Friday, August 26.

Another recent and important Acacia Research Corp (NASDAQ:ACTG) news was published by Businesswire.com which published an article titled: “Robbins Arroyo LLP: Acquisition of Acacia Research Corporation (ACTG) by …” on March 14, 2016.

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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