Acacia Research Co. (NASDAQ:ACTG) Director Sells $61,440.00 in Stock

Acacia Research Co. (NASDAQ:ACTG - Get Free Report) Director Isaac T. Kohlberg sold 16,000 shares of the firm'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 sale, the director now owns 85,446 shares of the company's stock, valued at $328,112.64. This trade represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Acacia Research Stock Up 1.1%

Shares of ACTG traded up $0.04 during trading hours on Monday, reaching $3.72. The stock had a trading volume of 122,783 shares, compared to its average volume of 236,885. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. The firm has a 50-day simple moving average of $3.42 and a 200 day simple moving average of $3.88. The company has a market capitalization of $357.76 million, a price-to-earnings ratio of 7.02 and a beta of 0.64. Acacia Research Co. has a 12 month low of $2.70 and a 12 month high of $5.70.

Acacia Research (NASDAQ:ACTG - Get Free Report) last posted its quarterly 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 net margin of 31.44% and a return on equity of 10.35%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Acacia Research from a "buy" rating to a "hold" rating in a report on Saturday, June 7th.

Hedge Funds Weigh In On Acacia Research

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of Acacia Research by 28.1% in the 4th quarter. SG Americas Securities LLC now owns 19,735 shares of the business services provider's stock worth $86,000 after purchasing an additional 4,327 shares during the period. Empowered Funds LLC boosted its holdings in shares of Acacia Research by 113.0% during the 4th quarter. Empowered Funds LLC now owns 163,076 shares of the business services provider's stock valued at $708,000 after acquiring an additional 86,531 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of Acacia Research during the 4th quarter valued at $1,033,000. Bank of New York Mellon Corp increased its position in shares of Acacia Research by 142.5% during 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 purchasing an additional 145,216 shares during the last quarter. Finally, Levin Capital Strategies L.P. grew its holdings in Acacia Research by 76.2% during the fourth quarter. Levin Capital Strategies L.P. now owns 183,996 shares of the business services provider's stock valued at $799,000 after purchasing an additional 79,545 shares during the period. Institutional investors own 86.69% of the company's stock.

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.