Acacia Research (NASDAQ:ACTG) Director Sells $109,200.00 in Stock

Acacia Research Corporation (NASDAQ:ACTG) Director Isaac Kohlberg sold 24,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $4.55, for a total transaction of $109,200.00. Following the completion of the sale, the director directly owned 54,310 shares of the company’s stock, valued at approximately $247,110.50. This trade represents a 30.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Acacia Research Stock Performance

Acacia Research stock opened at $4.51 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.51 and a current ratio of 4.76. The company has a market capitalization of $440.13 million, a PE ratio of -30.07 and a beta of 0.44. The company has a 50 day moving average price of $4.56 and a 200-day moving average price of $4.68. Acacia Research Corporation has a fifty-two week low of $3.15 and a fifty-two week high of $5.27.

Acacia Research (NASDAQ:ACTG) last issued its earnings results on Wednesday, August 5th. The business services provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.22. The business had revenue of $114.56 million during the quarter, compared to analysts’ expectations of $49.50 million. Acacia Research had a positive return on equity of 0.44% and a negative net margin of 5.39%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Acacia Research in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.00.

Hedge Funds Weigh In On Acacia Research

Several institutional investors and hedge funds have recently bought and sold shares of ACTG. Aegis Financial Corp purchased a new position in Acacia Research during the 1st quarter worth $2,362,000. Empowered Funds LLC raised its stake in Acacia Research by 39.1% in the first quarter. Empowered Funds LLC now owns 340,210 shares of the business services provider’s stock valued at $1,636,000 after buying an additional 95,624 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Acacia Research by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,853,889 shares of the business services provider’s stock worth $13,728,000 after acquiring an additional 95,089 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Acacia Research during the first quarter worth about $313,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Acacia Research during the first quarter valued at about $215,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Company Profile

Acacia Research Corporation is an investment company that acquires and manages businesses, intellectual property and other assets with the potential to generate long-term value. The company is publicly traded on the Nasdaq under the symbol ACTG.

Historically, Acacia has been best known for its patent licensing and enforcement activities. Through subsidiaries and affiliated entities, it has acquired patent portfolios from inventors, research institutions and operating companies, then pursued licensing agreements with businesses that use the underlying technologies.