Levin Capital Strategies L.P. Raises Stock Position in Acacia Research Corporation $ACTG

Levin Capital Strategies L.P. raised its holdings in shares of Acacia Research Corporation (NASDAQ:ACTG) by 195.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 889,547 shares of the business services provider’s stock after acquiring an additional 587,973 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.92% of Acacia Research worth $2,891,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Permanent Capital Management LP purchased a new position in shares of Acacia Research in the third quarter worth $1,317,000. Corsair Capital Management L.P. bought a new position in shares of Acacia Research in the 2nd quarter valued at about $280,000. Peapod Lane Capital LLC lifted its stake in shares of Acacia Research by 65.0% in the 2nd quarter. Peapod Lane Capital LLC now owns 718,192 shares of the business services provider’s stock valued at $2,571,000 after purchasing an additional 282,913 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Acacia Research during the second quarter worth $183,000. Finally, Empowered Funds LLC boosted its stake in shares of Acacia Research by 8.9% during the 1st quarter. Empowered Funds LLC now owns 177,666 shares of the business services provider’s stock worth $569,000 after purchasing an additional 14,590 shares during the period. Institutional investors own 86.69% of the company’s stock.

Analyst Ratings Changes

ACTG has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Acacia Research in a report on Wednesday, January 21st. Wall Street Zen raised shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Acacia Research Stock Performance

Shares of Acacia Research stock opened at $4.06 on Thursday. The company has a current ratio of 8.63, a quick ratio of 8.11 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $3.86 and its 200-day moving average price is $3.59. The firm has a market cap of $391.63 million, a P/E ratio of 81.22 and a beta of 0.57. Acacia Research Corporation has a 12 month low of $2.70 and a 12 month high of $4.40.

About Acacia Research

Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.

The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.