Acacia Research Corporation $ACTG Shares Sold by Krilogy Financial LLC

Krilogy Financial LLC trimmed its holdings in Acacia Research Corporation (NASDAQ:ACTG) by 9.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,127,487 shares of the business services provider’s stock after selling 115,926 shares during the period. Krilogy Financial LLC’s holdings in Acacia Research were worth $5,626,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in shares of Acacia Research in the 1st quarter valued at about $35,000. Pekin Hardy Strauss Inc. acquired a new stake in Acacia Research during the fourth quarter worth about $37,000. Zions Bancorporation National Association UT purchased a new position in Acacia Research during the fourth quarter valued at approximately $38,000. Occudo Quantitative Strategies LP acquired a new position in Acacia Research in the fourth quarter valued at approximately $49,000. Finally, Abel Hall LLC purchased a new stake in Acacia Research in the 4th quarter worth approximately $51,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACTG has been the topic of several analyst reports. Craig Hallum raised their price target on shares of Acacia Research from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Wall Street Zen lowered Acacia Research from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings cut Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.00.

Acacia Research Trading Up 1.1%

Shares of ACTG stock opened at $4.79 on Wednesday. Acacia Research Corporation has a fifty-two week low of $3.12 and a fifty-two week high of $5.27. 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 stock’s fifty day moving average is $4.77 and its two-hundred day moving average is $4.38. The firm has a market capitalization of $462.67 million, a P/E ratio of -26.61 and a beta of 0.45.

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

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.