Pacific Ridge Capital Partners LLC trimmed its holdings in Acacia Research Corp (NASDAQ:ACTG) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 927,243 shares of the business services provider’s stock after selling 63,857 shares during the period. Pacific Ridge Capital Partners LLC owned 1.87% of Acacia Research worth $2,967,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ACTG. Mackay Shields LLC acquired a new stake in Acacia Research in the 2nd quarter worth about $120,000. Strs Ohio acquired a new stake in Acacia Research in the 2nd quarter worth about $105,000. Schwab Charles Investment Management Inc. boosted its stake in Acacia Research by 18.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 256,761 shares of the business services provider’s stock worth $1,066,000 after buying an additional 40,007 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Acacia Research by 19.1% in the 2nd quarter. GSA Capital Partners LLP now owns 223,800 shares of the business services provider’s stock worth $929,000 after buying an additional 35,900 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted its stake in Acacia Research by 95.7% in the 2nd quarter. Alambic Investment Management L.P. now owns 388,760 shares of the business services provider’s stock worth $1,613,000 after buying an additional 190,060 shares during the last quarter. 62.64% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine lowered Acacia Research from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd.
Acacia Research stock opened at $3.03 on Friday. The stock has a market capitalization of $149.41 million, a PE ratio of 1.02 and a beta of 1.01. Acacia Research Corp has a 12 month low of $2.85 and a 12 month high of $4.45.
Acacia Research (NASDAQ:ACTG) last released its quarterly earnings data on Thursday, October 25th. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.19. The company had revenue of $13.73 million for the quarter, compared to the consensus estimate of $5.00 million. Acacia Research had a negative return on equity of 21.97% and a negative net margin of 237.71%.
In other news, Director Alfred Victor Jr. Tobia acquired 20,000 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were bought at an average cost of $3.01 per share, for a total transaction of $60,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc W. Booth acquired 10,000 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was purchased at an average price of $3.13 per share, for a total transaction of $31,300.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 55,346 shares of company stock worth $169,891. Company insiders own 11.04% of the company’s stock.
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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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