Revenue Update on Acacia Research Corp(NASDAQ:ACTG)

Acacia Research Corp(NASDAQ:ACTG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $41.53M. Analysts estimated a revenue of $23.33M. Earnings per share were $0.23. Analysts had estimated an EPS of $0.03.

Acacia Research Corp (ACTG) shares turned negative on Thursdays trading session with the shares closing down -0.25 points or -4.24% at a volume of 5,41,767. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.99. The peak price level was also seen at $5.99 while the days lowest was $5.5. Finally the shares closed at $5.65. The 52-week high of the shares is $10.63 while the 52-week low is $2.82. According to the latest information available, the market cap of the company is $285 M.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, Frank E. Iii Walsh (director) purchased 40,000 shares at $5.00 per share price.Also, On Jun 7, 2016, G Louis Iii Graziadio (director) purchased 74,169 shares at $3.79 per share price.On Apr 27, 2016, Marvin E Key (CEO) purchased 55,000 shares at $4.15 per share price, according to the Form-4 filing with the securities and exchange commission.

Acacia Research Corporation is a holding company. The Company through its subsidiaries engaged in patent investment prosecution licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. 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. Its subsidiaries own or control the rights to multiple patent portfolios which include the United States patents and certain foreign counterparts covering technologies used in a variety of industries. The Company is engaged in licensing and enforcing patented technologies and has licensed over 1430 license agreements across 181 of its patent portfolio licensing and enforcement programs.

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