Fondren Management LP raised its holdings in Acacia Research Corp (NASDAQ:ACTG) by 12.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,218,460 shares of the business services provider’s stock after acquiring an additional 138,460 shares during the quarter. Acacia Research makes up about 3.9% of Fondren Management LP’s portfolio, making the stock its 9th largest holding. Fondren Management LP owned about 2.46% of Acacia Research worth $5,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. LPL Financial LLC increased its position in shares of Acacia Research by 49.3% during the first quarter. LPL Financial LLC now owns 44,940 shares of the business services provider’s stock worth $157,000 after buying an additional 14,840 shares during the period. JPMorgan Chase & Co. increased its position in shares of Acacia Research by 15.4% during the first quarter. JPMorgan Chase & Co. now owns 118,011 shares of the business services provider’s stock worth $414,000 after buying an additional 15,725 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Acacia Research by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,606,538 shares of the business services provider’s stock worth $5,623,000 after buying an additional 17,126 shares during the period. Strs Ohio acquired a new stake in shares of Acacia Research during the second quarter worth $105,000. Finally, PEAK6 Investments L.P. acquired a new stake in shares of Acacia Research during the second quarter worth $111,000. Hedge funds and other institutional investors own 60.16% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd.

In related news, President Robert B. Stewart, Jr. sold 66,115 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $3.75, for a total transaction of $247,931.25. Following the transaction, the president now directly owns 164,758 shares of the company’s stock, valued at $617,842.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Marc W. Booth bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average cost of $3.48 per share, for a total transaction of $34,800.00. Following the completion of the purchase, the insider now owns 20,000 shares of the company’s stock, valued at $69,600. The disclosure for this purchase can be found here. Corporate insiders own 11.04% of the company’s stock.

Shares of ACTG traded up $0.10 during trading hours on Friday, hitting $3.30. 461,300 shares of the stock were exchanged, compared to its average volume of 225,474. Acacia Research Corp has a fifty-two week low of $3.05 and a fifty-two week high of $5.50. The stock has a market cap of $160.86 million, a PE ratio of 1.09 and a beta of 0.94.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings data on Wednesday, August 8th. The business services provider reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). Acacia Research had a positive return on equity of 46.49% and a negative net margin of 11.23%. The firm had revenue of $6.49 million for the quarter, compared to analyst estimates of $5.00 million. During the same quarter last year, the company earned ($0.14) earnings per share. The company’s quarterly revenue was down 60.6% compared to the same quarter last year.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in, licenses, and enforces patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.

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Institutional Ownership by Quarter for Acacia Research (NASDAQ:ACTG)

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