Levin Capital Strategies L.P. Grows Stock Position in Acacia Research Corporation (NASDAQ:ACTG)

Key Points

• Levin Capital Strategies L.P. increased its holdings in Acacia Research Corporation by 49.5%, now owning approximately 275,000 shares valued at $880,000.
• Recent analyst upgrades have seen Acacia Research's stock rating move from "hold" to "buy" by Wall Street Zen.
• Acacia Research reported earnings of $0.33 per share, surpassing consensus estimates significantly, despite a negative net margin of 5.21%.

Levin Capital Strategies L.P. lifted its holdings in shares of Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 49.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 275,000 shares of the business services provider's stock after acquiring an additional 91,004 shares during the period. Levin Capital Strategies L.P. owned approximately 0.29% of Acacia Research worth $880,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Peapod Lane Capital LLC lifted its position in Acacia Research by 82.9% during the 1st quarter. Peapod Lane Capital LLC now owns 435,279 shares of the business services provider's stock worth $1,393,000 after acquiring an additional 197,268 shares during the period. Krilogy Financial LLC boosted its position in Acacia Research by 11.6% in the first quarter. Krilogy Financial LLC now owns 1,158,024 shares of the business services provider's stock valued at $3,706,000 after buying an additional 120,024 shares during the last quarter. Formidable Asset Management LLC increased its holdings in Acacia Research by 1.0% in the 4th quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider's stock worth $4,353,000 after buying an additional 10,257 shares during the period. Tidal Investments LLC raised its position in Acacia Research by 6.2% during the 4th quarter. Tidal Investments LLC now owns 418,143 shares of the business services provider's stock worth $1,815,000 after buying an additional 24,559 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Acacia Research in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 86.69% of the company's stock.

Wall Street Analysts Forecast Growth

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

Acacia Research Stock Performance

Acacia Research stock traded down $0.08 during midday trading on Friday, hitting $3.25. 282,250 shares of the company were exchanged, compared to its average volume of 225,181. The business has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $3.69. 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 firm has a market capitalization of $312.56 million, a PE ratio of -54.16 and a beta of 0.61. Acacia Research Corporation has a fifty-two week low of $2.70 and a fifty-two week high of $5.36.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.38. Acacia Research had a negative net margin of 2.60% and a positive return on equity of 1.33%.

Insider Buying and Selling

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total value of $61,440.00. Following the completion of the transaction, the director owned 85,446 shares in the company, valued at approximately $328,112.64. This represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% 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.