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Acacia Research Corporation (NASDAQ:ACTG) Reports Q1 Profit Plunges – ACTG, QGEN, MYGN, FORR, MAXY

Acacia Research Corporation (NASDAQ:ACTG)’s shares lowered on Thursday after it declared that Q1 profit decreased to $5.11M or $0.11 a share from $49.93M or $1.09 a share in the similar period previous year.

Adjusted earnings for the quarter were $22.71M or $0.47 a share. On average, 6 analysts polled by Thomson Reuters anticipated the firm to generated $0.42 a share for the quarter. Analysts’ anticipates typically exclude special items.

Revenues plunged to $76.86M from $99.04M previous year. Analysts predictable revenues of $58.68M.

Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Qiagen NV (NASDAQ:QGEN) lost -1.43%, Myriad Genetics, Inc. (NASDAQ:MYGN) edged down -0.58%, Forrester Research, Inc. (NASDAQ:FORR) which also increased +0.09% and Maxygen, Inc. (NASDAQ:MAXY) closed up +0.84%.

Acacia Research Corporation (NASDAQ:ACTG) stock’s trade at beginning with a price of $29.62 and throughout the trading session climbed at a high of $29.80 other than when day-trade ended the stock finally advanced +0.17% to $29.57.

The stock is going forward its 52 week low with +48.89% and lagging behind from its 52 week high price with -34.26%. ACTG last month stock price volatility remained 4.15%.

ACTG stock institutional ownership remained 86.68% while insider ownership included 2.62%. In its share capital ACTG has 49.21 million outstanding shares among them 48.03 million shares have been floated in market exchange.

Company’s beta coefficient included 1.09. Beta factors measures the amount of market risk associated with market trade.


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