Peapod Lane Capital LLC Acquires 197,268 Shares of Acacia Research Corporation (NASDAQ:ACTG)

Peapod Lane Capital LLC grew its holdings in Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 82.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 435,279 shares of the business services provider's stock after acquiring an additional 197,268 shares during the quarter. Acacia Research accounts for about 1.6% of Peapod Lane Capital LLC's investment portfolio, making the stock its 24th largest holding. Peapod Lane Capital LLC owned about 0.45% of Acacia Research worth $1,393,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ACTG. Bank of New York Mellon Corp raised its position in Acacia Research by 142.5% in the 4th quarter. Bank of New York Mellon Corp now owns 247,099 shares of the business services provider's stock valued at $1,072,000 after buying an additional 145,216 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Acacia Research in the 4th quarter valued at approximately $74,000. Royce & Associates LP boosted its position in Acacia Research by 5.1% during the fourth quarter. Royce & Associates LP now owns 1,174,641 shares of the business services provider's stock valued at $5,098,000 after purchasing an additional 56,726 shares during the last quarter. Intech Investment Management LLC acquired a new position in Acacia Research during the fourth quarter valued at approximately $56,000. Finally, American Century Companies Inc. boosted its position in 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 valued at $1,908,000 after purchasing an additional 71,907 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the firm's stock in a transaction 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 transaction, the director owned 85,446 shares in the company, valued at $328,112.64. This trade represents a 15.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Acacia Research Stock Performance

Shares of ACTG traded up $0.14 during mid-day trading on Friday, reaching $3.98. The company's stock had a trading volume of 217,351 shares, compared to its average volume of 266,406. The stock has a market cap of $382.76 million, a P/E ratio of -36.18 and a beta of 0.59. The business has a 50-day simple moving average of $3.68 and a two-hundred day simple moving average of $3.79. The company has a current ratio of 6.16, a quick ratio of 5.81 and a debt-to-equity ratio of 0.18. Acacia Research Corporation has a 1-year low of $2.70 and a 1-year high of $5.70.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised 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.