Acacia Research Corporation $ACTG Stock: Krilogy Financial LLC Boosts Position

Krilogy Financial LLC grew its holdings in shares of Acacia Research Corporation (NASDAQ:ACTG) by 14.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,287,657 shares of the business services provider’s stock after purchasing an additional 159,826 shares during the quarter. Krilogy Financial LLC’s holdings in Acacia Research were worth $5,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in Acacia Research by 16.6% during the first quarter. Bank of America Corp DE now owns 33,319 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 4,746 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Acacia Research by 28.5% in the first quarter. NewEdge Advisors LLC now owns 42,129 shares of the business services provider’s stock worth $203,000 after buying an additional 9,351 shares during the period. Renaissance Technologies LLC grew its position in 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 acquiring an additional 12,284 shares during the last quarter. IMC Chicago LLC bought a new position in Acacia Research during the 1st quarter worth approximately $104,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Acacia Research during the first quarter valued at approximately $215,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Acacia Research Stock Performance

ACTG opened at $4.40 on Wednesday. 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 $3.24 and a 1-year high of $5.27. The company has a 50 day simple moving average of $4.49 and a two-hundred day simple moving average of $4.64. The firm has a market cap of $429.40 million, a P/E ratio of -29.33 and a beta of 0.51.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Acacia Research in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Acacia Research presently has an average rating of “Hold” and an average price target of $6.00.

Insider Buying and Selling at Acacia Research

In other news, 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 transaction of $109,200.00. Following the transaction, the director directly owned 54,310 shares in the company, valued at approximately $247,110.50. This trade represents a 30.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.74% of the company’s stock.

About Acacia Research

Acacia Research Corporation is an intellectual property investment and commercialization company headquartered in Irvine, California. Through its subsidiaries, the company acquires, develops, licenses and enforces patent portfolios and other intellectual property assets.

Acacia works with individual inventors, research institutions, universities and corporations to identify technologies with commercial potential. Its activities generally include evaluating patent assets, negotiating licensing agreements and pursuing enforcement actions when appropriate.