Brandywine Global Investment Management LLC Sells 209,756 Shares of Acacia Research Corporation $ACTG

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 trimmed its position in shares of Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 88.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Acacia Research by 5.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider's stock valued at $232,000 after buying an additional 2,581 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Acacia Research by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider's stock valued at $96,000 after acquiring an additional 4,825 shares during the period. Barclays PLC boosted its holdings in shares of Acacia Research by 14.1% in the fourth quarter. Barclays PLC now owns 56,787 shares of the business services provider's stock worth $247,000 after buying an additional 6,999 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Acacia Research during the 4th quarter worth $40,000. Finally, Formidable Asset Management LLC lifted its position in Acacia Research by 1.0% during the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider's stock valued at $4,353,000 after purchasing an additional 10,257 shares in the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Price Performance

Shares of Acacia Research stock traded down $0.0440 during trading on Monday, reaching $3.2960. 18,822 shares of the stock traded hands, compared to its average volume of 224,541. Acacia Research Corporation has a 52-week low of $2.70 and a 52-week high of $5.36. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.80 and a quick ratio of 8.29. The business has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $3.60. The company has a market capitalization of $317.87 million, a price-to-earnings ratio of -55.01 and a beta of 0.61.

Analysts Set New Price Targets

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

Insider Activity at Acacia Research

In related news, Director Isaac T. Kohlberg sold 16,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total value of $61,440.00. Following the sale, the director owned 85,446 shares in the company, valued at approximately $328,112.64. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.65% of the company's stock.

About Acacia Research

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.