Russell Investments Group Ltd. Invests $2,408,000 in Acacia Research Corp (ACTG)
Russell Investments Group Ltd. bought a new position in Acacia Research Corp (NASDAQ:ACTG) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 376,353 shares of the company’s stock, valued at approximately $2,408,000. Russell Investments Group Ltd. owned about 0.75% of Acacia Research Corp as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of ACTG. Laurion Capital Management LP acquired a new stake in Acacia Research Corp during the third quarter worth $1,794,000. Acrospire Investment Management LLC acquired a new stake in Acacia Research Corp during the third quarter worth $117,000. Princeton Alpha Management LP increased its stake in Acacia Research Corp by 96.2% in the third quarter. Princeton Alpha Management LP now owns 22,788 shares of the company’s stock worth $149,000 after buying an additional 11,175 shares during the period. Engineers Gate Manager LP increased its stake in Acacia Research Corp by 73.6% in the third quarter. Engineers Gate Manager LP now owns 69,295 shares of the company’s stock worth $452,000 after buying an additional 29,375 shares during the period. Finally, ClariVest Asset Management LLC acquired a new stake in Acacia Research Corp during the third quarter worth $819,000. Hedge funds and other institutional investors own 76.59% of the company’s stock.
Shares of Acacia Research Corp (NASDAQ:ACTG) opened at 5.40 on Tuesday. Acacia Research Corp has a 12-month low of $3.60 and a 12-month high of $7.68. The company’s market capitalization is $272.52 million. The stock has a 50 day moving average of $5.75 and a 200-day moving average of $6.27.
Acacia Research Corp (NASDAQ:ACTG) last released its quarterly earnings results on Thursday, March 9th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The firm had revenue of $22 million for the quarter, compared to analyst estimates of $24 million. Acacia Research Corp had a negative net margin of 94.19% and a positive return on equity of 9.53%. The firm’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Equities research analysts forecast that Acacia Research Corp will post $0.50 EPS for the current year.
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Separately, Zacks Investment Research downgraded shares of Acacia Research Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 28th.
In other news, Director Frank E. Walsh III purchased 44,765 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $5.09 per share, for a total transaction of $227,853.85. Following the completion of the transaction, the director now owns 270,097 shares in the company, valued at $1,374,793.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank E. Walsh III purchased 7,335 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were purchased at an average price of $5.05 per share, for a total transaction of $37,041.75. Following the transaction, the director now owns 322,197 shares of the company’s stock, valued at approximately $1,627,094.85. The disclosure for this purchase can be found here. 2.81% of the stock is currently owned by company insiders.
Acacia Research Corp Company Profile
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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