Alambic Investment Management L.P. boosted its position in Acacia Research Corp (NASDAQ:ACTG) by 95.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 388,760 shares of the business services provider’s stock after acquiring an additional 190,060 shares during the period. Alambic Investment Management L.P.’s holdings in Acacia Research were worth $1,613,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Strs Ohio bought a new position in Acacia Research during the second quarter worth about $105,000. Mackay Shields LLC bought a new position in Acacia Research during the second quarter worth about $120,000. Barclays PLC boosted its holdings in Acacia Research by 405.9% during the first quarter. Barclays PLC now owns 41,881 shares of the business services provider’s stock worth $146,000 after buying an additional 33,602 shares during the last quarter. LPL Financial LLC boosted its holdings in Acacia Research by 49.3% during the first quarter. LPL Financial LLC now owns 44,940 shares of the business services provider’s stock worth $157,000 after buying an additional 14,840 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Acacia Research by 15.4% during the first quarter. JPMorgan Chase & Co. now owns 118,011 shares of the business services provider’s stock worth $414,000 after buying an additional 15,725 shares during the last quarter. Hedge funds and other institutional investors own 60.16% of the company’s stock.
Separately, Zacks Investment Research upgraded Acacia Research from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd.
Shares of ACTG opened at $3.50 on Friday. Acacia Research Corp has a 1 year low of $3.25 and a 1 year high of $5.50. The stock has a market cap of $165.81 million, a price-to-earnings ratio of 1.21 and a beta of 0.94.
Acacia Research (NASDAQ:ACTG) last issued its earnings results on Wednesday, August 8th. The business services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). Acacia Research had a positive return on equity of 46.49% and a negative net margin of 11.23%. The company had revenue of $6.49 million for the quarter, compared to the consensus estimate of $5.00 million. During the same quarter last year, the business posted ($0.14) EPS. Acacia Research’s quarterly revenue was down 60.6% on a year-over-year basis.
In other news, President Robert B. Stewart, Jr. sold 66,115 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $3.75, for a total transaction of $247,931.25. Following the sale, the president now owns 164,758 shares of the company’s stock, valued at $617,842.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Marc W. Booth purchased 10,000 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were acquired at an average cost of $3.48 per share, for a total transaction of $34,800.00. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $69,600. The disclosure for this purchase can be found here. 11.04% of the stock is currently owned by company insiders.
About Acacia Research
Acacia Research Corporation, together with its subsidiaries, invests in, licenses, and enforces patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.
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