Acacia Research Appoints New CFO, Sees Average Price Target of $6.00

Acacia Research Corporation has appointed Michael Zambito as Chief Financial Officer, replacing Kirsten Hoover. Zambito has over 30 years of experience at Ernst & Young and brings expertise in finance, accounting, and mergers and acquisitions. The company's stock has a Buy rating with a $6.00 price target, and its overall stock score is Neutral. Acacia Research focuses on acquiring and operating businesses across the industrial, energy, and technology sectors.

Acacia Research Corporation (Nasdaq: ACTG) has appointed Michael Zambito as Chief Financial Officer (CFO), effective June 24, 2025. Zambito brings over 30 years of experience in finance, accounting, and mergers and acquisitions (M&A), having spent the majority of his career at Ernst & Young. Prior to his appointment, Zambito served as a Partner in EY-Parthenon, a market-leading strategy, transactions, and corporate finance provider, for over 17 years. He will replace Kirsten Hoover, who will continue to serve as Acacia’s Controller and remain a key member of the finance team.

Zambito’s appointment comes at a crucial time for Acacia Research, which has been working to improve its financial performance. The company is expected to see both sales and net income growth in the coming year, despite recent challenges. Acacia Research focuses on acquiring and operating businesses across the industrial, energy, and technology sectors, leveraging its capital base, industry relationships, and transaction expertise to improve performance in its acquired businesses. The company evaluates opportunities based on the attractiveness of underlying cash flows, rather than specific investment horizons.

Zambito’s extensive experience in the finance and consulting sectors, combined with his expertise in M&A, aligns well with Acacia Research’s strategy. The company’s stock has a Buy rating with a $6.00 price target, and its overall stock score is Neutral. Acacia Research’s management remains focused on strategic acquisitions and growth initiatives, leveraging its strong financial position to capitalize on market opportunities.

References:
[1] https://finance.yahoo.com/news/acacia-research-corporation-announces-appointment-113000722.html
[2] https://www.investing.com/news/company-news/acacia-research-appoints-ernst--young-veteran-as-new-cfo-93CH-4107754
[3] https://seekingalpha.com/news/4461491-acacia-research-appoints-michael-zambito-as-cfo