Levin Capital Strategies L.P. Boosts Stake in Acacia Research Corporation $ACTG

Levin Capital Strategies L.P. grew its stake in Acacia Research Corporation (NASDAQ:ACTG) by 195.0% during the third quarter, according to its most recent 13F filing with the Securities and 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.’s holdings in Acacia Research were worth $2,891,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ACTG. First Trust Advisors LP lifted its holdings in shares of Acacia Research by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 114,872 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 3,113 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Acacia Research by 22.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,016 shares of the business services provider’s stock worth $68,000 after buying an additional 3,517 shares during the last quarter. GatePass Capital LLC increased its position in Acacia Research by 9.3% during the 3rd quarter. GatePass Capital LLC now owns 105,300 shares of the business services provider’s stock valued at $342,000 after buying an additional 9,000 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Acacia Research in the first quarter valued at about $35,000. Finally, Empowered Funds LLC raised its stake in Acacia Research by 8.9% in the first quarter. Empowered Funds LLC now owns 177,666 shares of the business services provider’s stock valued at $569,000 after buying an additional 14,590 shares during the last quarter. 86.69% of the stock is owned by institutional investors.

Acacia Research Stock Up 1.5%

NASDAQ:ACTG opened at $4.06 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.63 and a quick ratio of 8.11. The company’s fifty day moving average price is $3.86 and its 200-day moving average price is $3.59. Acacia Research Corporation has a 1-year low of $2.70 and a 1-year high of $4.40. The firm has a market capitalization of $391.63 million, a P/E ratio of 81.22 and a beta of 0.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACTG. Wall Street Zen upgraded Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Acacia Research in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Acacia Research 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.