Acacia Research Co. (NASDAQ:ACTG) Short Interest Update

Acacia Research Co. (NASDAQ:ACTG) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 1,250,000 shares, a drop of 7.4% from the December 15th total of 1,350,000 shares. Based on an average daily trading volume, of 259,000 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Acacia Research from a “hold” rating to a “sell” rating in a research note on Wednesday.

Insiders Place Their Bets

In other Acacia Research news, Director Isaac T. Kohlberg sold 15,000 shares of Acacia Research stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.57, for a total value of $68,550.00. Following the completion of the transaction, the director now directly owns 69,274 shares of the company’s stock, valued at $316,582.18. This trade represents a 17.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On Acacia Research

A number of large investors have recently made changes to their positions in ACTG. Bank of New York Mellon Corp boosted its stake in shares of Acacia Research by 18.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 124,099 shares of the business services provider’s stock worth $622,000 after purchasing an additional 19,134 shares during the period. Victory Capital Management Inc. lifted its holdings in Acacia Research by 36.0% during the 2nd quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock valued at $88,000 after buying an additional 4,638 shares in the last quarter. American Century Companies Inc. lifted its holdings in Acacia Research by 392.1% during the 2nd quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock valued at $712,000 after buying an additional 113,207 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Acacia Research by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock valued at $8,878,000 after buying an additional 233,759 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Acacia Research by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock valued at $7,566,000 after buying an additional 6,143 shares in the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Price Performance

ACTG stock opened at $4.39 on Friday. Acacia Research has a 12 month low of $3.68 and a 12 month high of $5.74. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $4.43 and a 200 day moving average price of $4.69. The stock has a market cap of $427.45 million, a PE ratio of 8.28 and a beta of 0.52.

About Acacia Research

Acacia is a publicly traded (Nasdaq: ACTG) company that is focused on acquiring and operating businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon.