Oppenheimer & Co. Inc. reduced its position in shares of Acacia Research Corp. (NASDAQ:ACTG) by 21.6% during the second quarter, Holdings Channel reports. The firm owned 35,300 shares of the company’s stock after selling 9,700 shares during the period. Oppenheimer & Co. Inc. owned 0.07% of Acacia Research Corp. worth $155,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in shares of Acacia Research Corp. by 21.2% in the first quarter. Royce & Associates LP now owns 650,105 shares of the company’s stock worth $2,464,000 after buying an additional 113,900 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Acacia Research Corp. during the second quarter worth approximately $2,714,000. Alambic Investment Management L.P. boosted its stake in shares of Acacia Research Corp. by 114.2% in the second quarter. Alambic Investment Management L.P. now owns 233,925 shares of the company’s stock worth $1,029,000 after buying an additional 124,728 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Acacia Research Corp. during the first quarter worth approximately $2,103,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Acacia Research Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,313,896 shares of the company’s stock worth $4,980,000 after buying an additional 21,964 shares during the period. 72.10% of the stock is owned by institutional investors.
Acacia Research Corp. (NASDAQ:ACTG) traded down 2.01% during mid-day trading on Friday, reaching $6.33. The company had a trading volume of 409,752 shares. Acacia Research Corp. has a one year low of $2.82 and a one year high of $10.63. The firm’s 50-day moving average is $6.30 and its 200-day moving average is $4.96. The firm’s market capitalization is $318.92 million.
Acacia Research Corp. (NASDAQ:ACTG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.20. The business had revenue of $41.40 million for the quarter, compared to analyst estimates of $23.33 million. Acacia Research Corp. had a negative return on equity of 0.12% and a negative net margin of 166.23%. Acacia Research Corp.’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, equities research analysts anticipate that Acacia Research Corp. will post $0.47 earnings per share for the current fiscal year.
A number of analysts have recently commented on ACTG shares. Barclays PLC upped their price target on Acacia Research Corp. from $4.00 to $6.00 and gave the company an “underweight” rating in a research note on Friday, July 29th. Zacks Investment Research raised Acacia Research Corp. from a “hold” rating to a “strong-buy” rating and set a $6.75 price target for the company in a research note on Tuesday, August 2nd.
In other Acacia Research Corp. news, Director G Louis Graziadio III acquired 40,221 shares of Acacia Research Corp. stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average cost of $5.86 per share, with a total value of $235,695.06. Following the completion of the purchase, the director now directly owns 416,767 shares of the company’s stock, valued at approximately $2,442,254.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.81% of the stock is owned by corporate insiders.
About Acacia Research Corp.
Acacia Research Corporation, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Company operates in patent licensing and enforcement business segment.
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