Acacia Research (NASDAQ:ACTG) Director Isaac Kohlberg Sells 24,000 Shares of Stock

Acacia Research Corporation (NASDAQ:ACTG) Director Isaac Kohlberg sold 24,000 shares of the 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 transaction, the director owned 54,310 shares of the company’s stock, valued at $247,110.50. This represents a 30.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Acacia Research Stock Down 0.4%

ACTG stock opened at $4.54 on Thursday. Acacia Research Corporation has a 52 week low of $3.15 and a 52 week high of $5.27. The company has a market capitalization of $443.06 million, a price-to-earnings ratio of -30.27 and a beta of 0.44. The firm’s 50-day moving average is $4.55 and its two-hundred day moving average is $4.68. The company has a current ratio of 4.76, a quick ratio of 4.51 and a debt-to-equity ratio of 0.11.

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

Institutional Trading of Acacia Research

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Acacia Research by 28.5% in the first quarter. NewEdge Advisors LLC now owns 42,129 shares of the business services provider’s stock worth $203,000 after buying an additional 9,351 shares during the period. Bank of America Corp DE raised its position in Acacia Research by 16.6% during the first quarter. Bank of America Corp DE now owns 33,319 shares of the business services provider’s stock valued at $160,000 after buying an additional 4,746 shares during the period. Empowered Funds LLC lifted its stake in Acacia Research by 39.1% in the 1st quarter. Empowered Funds LLC now owns 340,210 shares of the business services provider’s stock worth $1,636,000 after acquiring an additional 95,624 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in Acacia Research in the 1st quarter worth about $215,000. Finally, Renaissance Technologies LLC boosted its position in Acacia Research by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,407,584 shares of the business services provider’s stock worth $6,770,000 after acquiring an additional 12,284 shares during the period. 86.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Acacia Research

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.