On 13 May 2020, Acacia Research Corporation (NASDAQ: ACTG) spotted trading -30.14% off 52-week high price. On the other end, the stock has been noted 39.71% away from the low price over the last 52-weeks. The stock changed -2.20% to recent value of $2.44. The stock transacted 149440 shares during most recent day however it has an average volume of 222.44K shares. The company has 48.37M of outstanding shares and 46.99M shares were floated in the market.
Acacia Research Corporation (ACTG) recently stated results for the three and 12-month periods ended December 31, 2019.
Clifford Press, Chief Executive Officer, stated, “We finished 2019 with a substantially expanded capital base, leaner cost structure, and the prospects to build an exceptional platform for investing in exclusive transactions. We are gratified that our shareholders strongly endorsed our planned joint venture with Starboard Value, an ideal partner for Acacia as we work to leverage our substantial net tax assets and implement our absolute return investment strategy. We continue to build out our investment team and the prospects to put this exceptional platform to work is only improved by current market conditions.”
Full-Year 2019 Financial Summary:
- Cash and short-term investments totaled $168.3M as of December 31, 2019, a raise from $165.5M as of December 31, 2018.
- Gross revenues were $11.2M.
- General and administrative expenses declined 12.6% as new management rationalized the company’s cost structure, including reducing rent and duplicative salaries.
- Operating loss was $23.4M.
- GAAP net loss to ordinary shareholders was $17.4M or $(0.35) per basic share.
Fourth Quarter Financial Summary:
- Gross revenues were $688,000.
- Operating loss was $7.4M.
- GAAP net income to ordinary shareholders was $327,000 or $0.01 per basic share.
Its earnings per share (EPS) expected to touch remained 83.30% for this year while earning per share for the next 5-years is expected to reach at 20.00%. ACTG has a gross margin of 56.00% and an operating margin of # ref while its profit margin remained # ref for the last 12 months. According to the most recent quarter its current ratio was 14.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -2.31% from the mean of 20 days, 3.15% from mean of 50 days SMA and performed -6.68% from mean of 200 days price. Company’s performance for the week was 1.24%, -1.81% for month and YTD performance remained -8.08%.