Formidable Asset Management LLC Has $2.94 Million Stock Position in Acacia Research Corporation (NASDAQ:ACTG)

Formidable Asset Management LLC lowered its position in shares of Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 918,636 shares of the business services provider's stock after selling 84,286 shares during the quarter. Formidable Asset Management LLC owned 0.96% of Acacia Research worth $2,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ACTG. Price T Rowe Associates Inc. MD increased its holdings in Acacia Research by 5.1% in 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 purchasing an additional 2,581 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Acacia Research by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider's stock valued at $96,000 after purchasing an additional 4,825 shares during the period. Barclays PLC increased its holdings in Acacia Research by 14.1% during the 4th quarter. Barclays PLC now owns 56,787 shares of the business services provider's stock worth $247,000 after purchasing an additional 6,999 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Acacia Research in the 4th quarter worth approximately $40,000. Finally, Occudo Quantitative Strategies LP lifted its stake in Acacia Research by 77.7% in the fourth quarter. Occudo Quantitative Strategies LP now owns 23,752 shares of the business services provider's stock valued at $103,000 after purchasing an additional 10,382 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company's stock.

Insider Activity at Acacia Research

In related news, Director Isaac T. Kohlberg sold 16,000 shares of the 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 transaction, the director directly owned 85,446 shares of the company's stock, valued at $328,112.64. This trade represents a 15.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.65% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Acacia Research from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Acacia Research Stock Performance

Shares of Acacia Research stock traded up $0.05 during trading on Tuesday, hitting $3.69. 98,589 shares of the company's stock were exchanged, compared to its average volume of 262,145. Acacia Research Corporation has a 52-week low of $2.70 and a 52-week high of $5.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.81 and a current ratio of 6.16. The business has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $3.75. The stock has a market capitalization of $354.87 million, a price-to-earnings ratio of -33.55 and a beta of 0.59.

Acacia Research (NASDAQ:ACTG - Get Free Report) last posted its earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.38. Acacia Research had a negative net margin of 5.21% and a positive return on equity of 2.09%.

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.