Acacia Research Corporation $ACTG Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management has sold 209,756 shares of Acacia Research Corporation, reducing its holdings by 88.5%, leaving them with only 27,197 shares valued at approximately $87,000.
• Multiple institutional investors have increased their stakes in Acacia Research during the fourth quarter, with MetLife Investment Management expanding its holdings by 204.1%.
• Acacia Research's stock was recently downgraded from a "buy" to a "hold" rating by Wall Street Zen amid fluctuations in share performance, which ranges from a one-year low of $2.70 to a high of $5.36.

Brandywine Global Investment Management LLC cut its stake in Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 88.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,197 shares of the business services provider's stock after selling 209,756 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Acacia Research were worth $87,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACTG. Price T Rowe Associates Inc. MD increased its holdings in shares of Acacia Research by 5.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider's stock valued at $232,000 after purchasing an additional 2,581 shares in the last quarter. Wells Fargo & Company MN grew its position in Acacia Research by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider's stock valued at $96,000 after buying an additional 4,825 shares during the period. Barclays PLC increased its holdings in Acacia Research by 14.1% in the fourth quarter. Barclays PLC now owns 56,787 shares of the business services provider's stock valued at $247,000 after buying an additional 6,999 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Acacia Research in the fourth quarter worth about $40,000. Finally, Formidable Asset Management LLC raised its position in shares of Acacia Research by 1.0% in the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider's stock worth $4,353,000 after acquiring an additional 10,257 shares during the period. Institutional investors and hedge funds own 86.69% of the company's stock.

Acacia Research Price Performance

ACTG traded down $0.09 during midday trading on Monday, hitting $3.25. 115,214 shares of the company traded hands, compared to its average volume of 239,769. The business has a 50 day simple moving average of $3.58 and a two-hundred day simple moving average of $3.59. Acacia Research Corporation has a 52-week low of $2.70 and a 52-week high of $5.36. The company has a market capitalization of $313.43 million, a price-to-earnings ratio of -54.16 and a beta of 0.61. The company has a current ratio of 8.80, a quick ratio of 8.29 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Acacia Research from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th.

Insider Transactions at Acacia Research

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total transaction of $61,440.00. Following the completion of the sale, the director directly owned 85,446 shares in the company, valued at approximately $328,112.64. The trade was a 15.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.65% of the company's stock.

Acacia Research Profile

Acacia is a publicly traded Nasdaq: ACTG company that is focused on acquiring and operating businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon.