Acacia Research (NASDAQ:ACTG) Director Isaac Kohlberg Sells 24,000 Shares of Stock

Key Points

• Director Isaac Kohlberg sold 24,000 Acacia Research shares at an average price of $4.55, generating $109,200 and reducing his holdings by 30.65% to 54,310 shares.
• Acacia Research shares slipped 0.4% to $4.54, trading between a 52-week range of $3.15 to $5.27. The company recently reported quarterly EPS of $0.13, beating estimates, and revenue of $114.56 million.
• Analyst sentiment remains mixed, with one Buy and one Sell rating, resulting in a consensus Hold rating and a $6.00 average price target; institutional investors own 86.69% of the stock.

Acacia Research Corporation (NASDAQ:ACTG - Get Free Report) Director Isaac Kohlberg sold 24,000 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $4.55, for a total transaction of $109,200.00. Following the transaction, the director owned 54,310 shares in the company, valued at approximately $247,110.50. The trade was a 30.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Acacia Research Stock Down 0.4%

Shares of Acacia Research stock traded down $0.02 during trading hours on Wednesday, reaching $4.54. The company's stock had a trading volume of 175,078 shares, compared to its average volume of 262,244. Acacia Research Corporation has a one year low of $3.15 and a one year high of $5.27. The company has a market capitalization of $443.06 million, a P/E ratio of -30.27 and a beta of 0.44. The stock's fifty day simple moving average is $4.55 and its two-hundred day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.51 and a current ratio of 4.76.

Acacia Research (NASDAQ:ACTG - Get Free Report) last posted its earnings results on Wednesday, August 5th. The business services provider reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.22. Acacia Research had a negative net margin of 5.39% and a positive return on equity of 0.44%. The company had revenue of $114.56 million during the quarter, compared to the consensus estimate of $49.50 million.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Acacia Research in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Acacia Research has a consensus rating of "Hold" and an average target price of $6.00.

Institutional Trading of Acacia Research

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Acacia Research by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,853,889 shares of the business services provider's stock worth $13,728,000 after purchasing an additional 95,089 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Acacia Research by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,407,584 shares of the business services provider's stock worth $6,770,000 after purchasing an additional 12,284 shares during the period. Aegis Financial Corp bought a new stake in shares of Acacia Research during the 1st quarter worth $2,362,000. Empowered Funds LLC boosted its holdings in shares of Acacia Research by 39.1% in the 1st quarter. Empowered Funds LLC now owns 340,210 shares of the business services provider's stock worth $1,636,000 after buying an additional 95,624 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Acacia Research in the 1st quarter worth about $313,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Company Profile

Acacia Research Corporation is an investment company that acquires and manages businesses, intellectual property and other assets with the potential to generate long-term value. The company is publicly traded on the Nasdaq under the symbol ACTG.

Historically, Acacia has been best known for its patent licensing and enforcement activities. Through subsidiaries and affiliated entities, it has acquired patent portfolios from inventors, research institutions and operating companies, then pursued licensing agreements with businesses that use the underlying technologies.

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