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

Formidable Asset Management LLC reduced its holdings in shares of Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Acacia Research by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,673 shares of the business services provider's stock valued at $9,985,000 after acquiring an additional 220,579 shares during the last quarter. Krilogy Financial LLC raised its holdings in shares of Acacia Research by 11.6% during the first quarter. Krilogy Financial LLC now owns 1,158,024 shares of the business services provider's stock worth $3,706,000 after purchasing an additional 120,024 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in shares of Acacia Research by 7.8% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,004,495 shares of the business services provider's stock worth $4,360,000 after purchasing an additional 72,494 shares during the period. American Century Companies Inc. raised its holdings in shares of Acacia Research by 19.6% during the fourth quarter. American Century Companies Inc. now owns 439,532 shares of the business services provider's stock worth $1,908,000 after purchasing an additional 71,907 shares during the period. Finally, Peapod Lane Capital LLC raised its holdings in shares of Acacia Research by 82.9% during the first quarter. Peapod Lane Capital LLC now owns 435,279 shares of the business services provider's stock worth $1,393,000 after purchasing an additional 197,268 shares during the period. 86.69% of the stock is owned by institutional investors and hedge funds.

Acacia Research Stock Down 1.6%

NASDAQ:ACTG traded down $0.06 during mid-day trading on Friday, reaching $3.70. The stock had a trading volume of 115,005 shares, compared to its average volume of 263,361. The business's 50 day moving average is $3.74 and its 200 day moving average is $3.75. Acacia Research Corporation has a fifty-two week low of $2.70 and a fifty-two week high of $5.64. The stock has a market cap of $355.83 million, a P/E ratio of -33.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.16 and a quick ratio of 5.81.

Acacia Research (NASDAQ:ACTG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping 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%.

Insider Buying and Selling at Acacia Research

In related news, Director Isaac T. Kohlberg sold 16,000 shares of Acacia Research stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total value of $61,440.00. Following the completion of the sale, the director directly owned 85,446 shares in the company, valued at $328,112.64. This trade represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Acacia Research Company 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.