Acacia Research Co. (NASDAQ:ACTG – Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 546,300 shares, a decline of 18.7% from the July 15th total of 671,800 shares. Based on an average daily trading volume, of 267,500 shares, the days-to-cover ratio is currently 2.0 days.
Wall Street Analyst Weigh In
Separately, StockNews.com cut shares of Acacia Research from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.
Read Our Latest Research Report on ACTG
Acacia Research Stock Performance
Institutional Trading of Acacia Research
Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in shares of Acacia Research during the second quarter worth $43,000. Corsair Capital Management L.P. bought a new position in Acacia Research in the fourth quarter valued at approximately $59,000. The Manufacturers Life Insurance Company bought a new stake in shares of Acacia Research during the 2nd quarter valued at $83,000. Victory Capital Management Inc. grew its stake in shares of Acacia Research by 36.0% during the second quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock worth $88,000 after purchasing an additional 4,638 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in Acacia Research in the first quarter valued at about $136,000. 86.69% of the stock is owned by institutional investors.
Acacia Research Company Profile
Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.
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