Peapod Lane Capital LLC Grows Stake in Acacia Research Corporation (NASDAQ:ACTG)

Peapod Lane Capital LLC lifted its position in Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 82.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 435,279 shares of the business services provider's stock after buying an additional 197,268 shares during the period. Acacia Research makes up about 1.6% of Peapod Lane Capital LLC's investment portfolio, making the stock its 24th biggest position. Peapod Lane Capital LLC owned approximately 0.45% of Acacia Research worth $1,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ACTG. Bank of New York Mellon Corp lifted its position in Acacia Research by 142.5% during the fourth 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 purchasing an additional 145,216 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Acacia Research during the fourth quarter valued at $74,000. Royce & Associates LP raised its holdings 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 acquiring an additional 56,726 shares during the period. Intech Investment Management LLC bought a new stake in Acacia Research during the fourth quarter valued at about $56,000. Finally, American Century Companies Inc. raised its holdings 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 acquiring an additional 71,907 shares during the period. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Acacia Research Trading Up 0.5%

Shares of NASDAQ ACTG opened at $3.81 on Thursday. The business's 50 day moving average is $3.67 and its two-hundred day moving average is $3.79. 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 Corporation has a 1-year low of $2.70 and a 1-year high of $5.70. The stock has a market capitalization of $366.41 million, a P/E ratio of -34.64 and a beta of 0.59.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings data 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%.

Analysts Set New Price Targets

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

Insider Activity

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 85,446 shares in the company, valued at $328,112.64. The trade was a 15.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

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.

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