Why Acacia Research Corp.'s Shares Popped 22% Today

Shares of Acacia Research Corp. (NASDAQ: ACTG) jumped as much as 22.2% in trading Tuesday, after the company disclosed that insiders bought a total of 67,400 shares in the past few trading days. Shares slipped slightly as the day wore on and at 3:40 p.m. EDT were up 10.5% on the day.

Five insiders made the acquisitions, including President Robert Stewart and CFO Clayton Haynes. A reason wasn't given for the purchases, but when a large number of insiders buy shares of a company, it's likely they know good news is ahead and are using a short window of opportunity to buy.

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Source: Fool.com