Russell Investments Group Ltd. cut its position in shares of Acacia Research Co. (NASDAQ:ACTG – Get Rating) by 39.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,549 shares of the business services provider’s stock after selling 5,671 shares during the period. Russell Investments Group Ltd.’s holdings in Acacia Research were worth $37,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Elkhorn Partners Limited Partnership raised its stake in Acacia Research by 34.6% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 28,800 shares of the business services provider’s stock worth $148,000 after purchasing an additional 7,400 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Acacia Research by 89.5% in the 4th quarter. BNP Paribas Arbitrage SA now owns 21,166 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 9,995 shares during the period. ProShare Advisors LLC purchased a new stake in shares of Acacia Research in the 4th quarter valued at approximately $55,000. OLD Mission Capital LLC purchased a new stake in shares of Acacia Research in the 4th quarter valued at approximately $78,000. Finally, American Century Companies Inc. purchased a new stake in shares of Acacia Research in the 4th quarter valued at approximately $84,000. 63.02% of the stock is owned by hedge funds and other institutional investors.
Acacia Research Stock Performance
Acacia Research stock opened at $4.76 on Friday. The company’s 50 day simple moving average is $4.86 and its 200-day simple moving average is $4.48. The company has a market capitalization of $182.34 million, a price-to-earnings ratio of -2.74 and a beta of 0.37. Acacia Research Co. has a 1 year low of $3.30 and a 1 year high of $7.54.
Acacia Research (NASDAQ:ACTG – Get Rating) last released its quarterly earnings results on Thursday, August 11th. The business services provider reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.56). Acacia Research had a net margin of 167.82% and a return on equity of 10.97%.
Acacia Research Profile
Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through two segments, Intellectual Property Operations and Industrial Operations.
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