Victory Capital Management Inc. Has $88,000 Position in Acacia Research Co. (NASDAQ:ACTG)

Victory Capital Management Inc. raised its stake in Acacia Research Co. (NASDAQ:ACTG) by 36.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,513 shares of the business services provider’s stock after acquiring an additional 4,638 shares during the period. Victory Capital Management Inc.’s holdings in Acacia Research were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Acacia Research in the second quarter valued at about $43,000. Corsair Capital Management L.P. bought a new position in Acacia Research in the 4th quarter valued at about $59,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Acacia Research in the 1st quarter valued at approximately $136,000. BNP Paribas Financial Markets lifted its holdings in shares of Acacia Research by 146.4% during the 1st quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after acquiring an additional 16,735 shares during the period. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Acacia Research during the 1st quarter worth approximately $153,000. 86.69% of the stock is currently owned by institutional investors.

Acacia Research Stock Performance

NASDAQ:ACTG opened at $4.76 on Wednesday. The company has a quick ratio of 10.90, a current ratio of 11.17 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $476.10 million, a PE ratio of 13.22 and a beta of 0.52. Acacia Research Co. has a twelve month low of $3.43 and a twelve month high of $5.74. The stock’s 50-day simple moving average is $4.88 and its 200 day simple moving average is $5.05.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $25.84 million for the quarter. Acacia Research had a net margin of 44.42% and a return on equity of 12.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Acacia Research from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

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.