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

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 transaction of $109,200.00. Following the transaction, the director directly owned 54,310 shares of the company’s stock, valued at $247,110.50. This 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 available at this hyperlink.

Acacia Research Stock Performance

Shares of ACTG stock traded down $0.02 during trading hours on Wednesday, hitting $4.54. 175,078 shares of the company were exchanged, compared to its average volume of 262,244. The firm has a fifty day simple moving average of $4.55 and a 200 day simple moving average of $4.67. The company has a current ratio of 4.76, a quick ratio of 4.51 and a debt-to-equity ratio of 0.11. Acacia Research Corporation has a 52-week low of $3.15 and a 52-week high of $5.27. The stock has a market capitalization of $443.06 million, a price-to-earnings ratio of -30.27 and a beta of 0.44.

Acacia Research (NASDAQ:ACTG) last posted 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. 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 the consensus estimate of $49.50 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royce & Associates LP bought a new position in Acacia Research in the 4th quarter worth approximately $55,000. IMC Chicago LLC bought a new stake in Acacia Research during the 1st quarter valued at $104,000. Bank of America Corp DE raised its holdings in Acacia Research by 16.6% during the 1st quarter. Bank of America Corp DE now owns 33,319 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 4,746 shares during the period. NewEdge Advisors LLC lifted its position in shares of Acacia Research by 28.5% during the first quarter. NewEdge Advisors LLC now owns 42,129 shares of the business services provider’s stock worth $203,000 after acquiring an additional 9,351 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Acacia Research during the first quarter worth $215,000. 86.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.