Krilogy Financial LLC Lowers Stock Holdings in Acacia Research Corporation $ACTG

Krilogy Financial LLC cut its stake in shares of Acacia Research Corporation (NASDAQ:ACTG) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,127,487 shares of the business services provider’s stock after selling 115,926 shares during the quarter. Krilogy Financial LLC owned approximately 1.17% of Acacia Research worth $5,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ACTG. Invesco Ltd. boosted its holdings in shares of Acacia Research by 4.4% in the fourth quarter. Invesco Ltd. now owns 77,143 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 3,252 shares during the period. NewEdge Advisors LLC purchased a new position in Acacia Research during the 4th quarter worth $123,000. Empowered Funds LLC raised its position in Acacia Research by 11.3% during the 4th quarter. Empowered Funds LLC now owns 244,586 shares of the business services provider’s stock valued at $915,000 after purchasing an additional 24,752 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Acacia Research during the 4th quarter valued at $49,000. Finally, Bridgeway Capital Management LLC raised its position in Acacia Research by 65.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 441,886 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 174,752 shares in the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded Acacia Research from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Craig Hallum upped their price objective on shares of Acacia Research from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Acacia Research Stock Up 1.1%

Acacia Research stock opened at $4.79 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 8.09 and a current ratio of 8.56. The business’s 50-day simple moving average is $4.77 and its two-hundred day simple moving average is $4.38. The company has a market cap of $462.67 million, a PE ratio of -26.61 and a beta of 0.45. Acacia Research Corporation has a fifty-two week low of $3.12 and a fifty-two week high of $5.27.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. Acacia Research had a negative return on equity of 2.81% and a negative net margin of 8.53%.The firm had revenue of $54.24 million during the quarter, compared to analysts’ expectations of $50.00 million. During the same period last year, the business posted $0.25 earnings per share.

Acacia Research Company Profile

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.