Acacia Research (NASDAQ:ACTG) Trading Up 6.6%

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Acacia Research Corp (NASDAQ:ACTG) shares were up 6.6% during mid-day trading on Friday . The company traded as high as $2.87 and last traded at $2.74, approximately 125,792 shares traded hands during mid-day trading. An increase of 5% from the average daily volume of 119,294 shares. The stock had previously closed at $2.57.

The business has a fifty day simple moving average of $2.68 and a 200-day simple moving average of $2.94.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $5.46 million during the quarter. Acacia Research had a negative return on equity of 7.79% and a negative net margin of 76.22%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolverine Trading LLC grew its stake in shares of Acacia Research by 186.1% in the second quarter. Wolverine Trading LLC now owns 11,013 shares of the business services provider’s stock worth $33,000 after acquiring an additional 23,811 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of Acacia Research by 209.8% in the second quarter. Citadel Advisors LLC now owns 18,771 shares of the business services provider’s stock worth $56,000 after acquiring an additional 35,871 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Acacia Research in the first quarter worth $168,000. Parametric Portfolio Associates LLC grew its stake in shares of Acacia Research by 88.3% in the second quarter. Parametric Portfolio Associates LLC now owns 96,493 shares of the business services provider’s stock worth $286,000 after acquiring an additional 45,259 shares during the last quarter. Finally, Callodine Capital Management LP grew its stake in shares of Acacia Research by 30.4% in the second quarter. Callodine Capital Management LP now owns 150,000 shares of the business services provider’s stock worth $444,000 after acquiring an additional 35,000 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

About Acacia Research (NASDAQ:ACTG)

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engage in the licensing and enforcement of 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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