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

Peapod Lane Capital LLC boosted its stake in Acacia Research Corporation (NASDAQ:ACTG - Free Report) by 82.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 435,279 shares of the business services provider's stock after purchasing an additional 197,268 shares during the quarter. Acacia Research comprises approximately 1.6% of Peapod Lane Capital LLC's portfolio, making the stock its 24th biggest holding. Peapod Lane Capital LLC owned approximately 0.45% of Acacia Research worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in Acacia Research by 5.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider's stock worth $232,000 after acquiring an additional 2,581 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Acacia Research by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider's stock worth $96,000 after purchasing an additional 4,825 shares in the last quarter. Barclays PLC increased its stake in shares of Acacia Research by 14.1% in the 4th quarter. Barclays PLC now owns 56,787 shares of the business services provider's stock worth $247,000 after acquiring an additional 6,999 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Acacia Research in the 4th quarter worth approximately $40,000. Finally, Formidable Asset Management LLC increased its holdings in shares of Acacia Research by 1.0% during the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider's stock valued at $4,353,000 after acquiring an additional 10,257 shares in the last quarter. 86.69% of the stock is owned by institutional investors.

Acacia Research Stock Performance

ACTG stock traded up $0.13 during trading on Friday, reaching $3.97. The stock had a trading volume of 375,450 shares, compared to its average volume of 266,482. Acacia Research Corporation has a 52 week low of $2.70 and a 52 week high of $5.70. The firm has a market cap of $381.79 million, a PE ratio of -36.09 and a beta of 0.59. The company has a current ratio of 6.16, a quick ratio of 5.81 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average is $3.70 and its two-hundred day moving average is $3.77.

Acacia Research (NASDAQ:ACTG - Get Free Report) last released 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 positive return on equity of 2.09% and a negative net margin of 5.21%.

Insider Activity

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the stock in a transaction on 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 owned 85,446 shares in the company, valued at approximately $328,112.64. This represents a 15.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.