The Manufacturers Life Insurance Company Acquires Shares of 16,590 Acacia Research Co. (NASDAQ:ACTG)

The Manufacturers Life Insurance Company acquired a new position in shares of Acacia Research Co. (NASDAQ:ACTG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 16,590 shares of the business services provider’s stock, valued at approximately $83,000.

A number of other institutional investors also recently made changes to their positions in ACTG. Krilogy Financial LLC increased its stake in shares of Acacia Research by 73.0% in the second quarter. Krilogy Financial LLC now owns 813,000 shares of the business services provider’s stock worth $4,073,000 after buying an additional 343,000 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $8,878,000 after acquiring an additional 233,759 shares in the last quarter. American Century Companies Inc. increased its position in shares of Acacia Research by 392.1% in the 2nd quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock worth $712,000 after purchasing an additional 113,207 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Acacia Research in the 1st quarter valued at about $439,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Acacia Research during the second quarter worth about $354,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Acacia Research Stock Performance

ACTG stock opened at $4.73 on Monday. The firm has a market cap of $473.10 million, a P/E ratio of 13.14 and a beta of 0.52. The stock’s 50 day simple moving average is $4.67 and its 200 day simple moving average is $5.01. The company has a current ratio of 11.17, a quick ratio of 10.90 and a debt-to-equity ratio of 0.14. Acacia Research Co. has a 12-month low of $3.43 and a 12-month high of $5.74.

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

Analyst Ratings Changes

Separately, StockNews.com lowered Acacia Research from a “hold” rating to a “sell” rating in a report on Friday, October 11th.

Acacia Research Company Profile

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.