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

Acacia Research Corporation (NASDAQ:ACTG) Director Isaac Kohlberg sold 24,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $4.55, for a total value of $109,200.00. Following the transaction, the director directly owned 54,310 shares of the company’s stock, valued at approximately $247,110.50. The trade was a 30.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Acacia Research Stock Performance

NASDAQ ACTG opened at $4.53 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.76 and a quick ratio of 4.51. Acacia Research Corporation has a 1-year low of $3.15 and a 1-year high of $5.27. The business has a 50 day simple moving average of $4.55 and a two-hundred day simple moving average of $4.68. The stock has a market capitalization of $442.08 million, a PE ratio of -30.20 and a beta of 0.44.

Acacia Research (NASDAQ:ACTG) last issued its quarterly earnings data on Wednesday, August 5th. The business services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.22. Acacia Research had a positive return on equity of 0.44% and a negative net margin of 5.39%.The business had revenue of $114.56 million for the quarter, compared to analysts’ expectations of $49.50 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acacia Research in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Acacia Research presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Institutional Investors Weigh In On Acacia Research

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

About Acacia Research

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.