Arrowstreet Capital Limited Partnership reduced its stake in Acacia Research Co. (NASDAQ:ACTG) by 37.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,060 shares of the business services provider’s stock after selling 173,123 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.58% of Acacia Research worth $1,916,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Acacia Research by 13.3% in the first quarter. JPMorgan Chase & Co. now owns 164,444 shares of the business services provider’s stock valued at $1,094,000 after acquiring an additional 19,284 shares in the last quarter. First Quadrant L P CA acquired a new stake in shares of Acacia Research in the first quarter valued at $27,000. BlackRock Inc. raised its stake in shares of Acacia Research by 19.5% in the first quarter. BlackRock Inc. now owns 3,037,905 shares of the business services provider’s stock valued at $20,203,000 after acquiring an additional 495,595 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Acacia Research by 12.9% in the first quarter. Geode Capital Management LLC now owns 795,593 shares of the business services provider’s stock valued at $5,290,000 after acquiring an additional 91,088 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of Acacia Research by 202.4% in the fourth quarter. Citigroup Inc. now owns 9,401 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 6,292 shares in the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
Acacia Research stock opened at $6.23 on Thursday. Acacia Research Co. has a 1-year low of $3.06 and a 1-year high of $9.09. The company has a fifty day simple moving average of $5.92.
In other Acacia Research news, insider Marc W. Booth sold 5,909 shares of the firm’s stock in a transaction dated Friday, June 18th. The stock was sold at an average price of $6.10, for a total transaction of $36,044.90. Following the transaction, the insider now owns 185,368 shares of the company’s stock, valued at $1,130,744.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Jay Rosenstein sold 9,600 shares of the firm’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $5.51, for a total value of $52,896.00. Following the transaction, the chief financial officer now directly owns 76,900 shares in the company, valued at approximately $423,719. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,082 shares of company stock worth $115,098. Corporate insiders own 1.42% of the company’s stock.
Separately, TheStreet cut Acacia Research from a “c” rating to a “d” rating in a research note on Wednesday, May 26th.
Acacia Research Company Profile
Acacia Research Corporation, together with its subsidiaries, intends to acquire undervalued businesses primarily in technology, life sciences, industrial, and financial services segments in the United States. The company also invests in intellectual property and related absolute return assets, as well as engages in the licensing and enforcement of patented technologies.
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