Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Acacia Research Co. (NASDAQ:ACTG)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Acacia Research Co. (NASDAQ:ACTG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,057 shares of the business services provider’s stock, valued at approximately $117,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACTG. The Manufacturers Life Insurance Company bought a new stake in shares of Acacia Research during the second quarter valued at approximately $83,000. Dimensional Fund Advisors LP boosted its position in Acacia Research by 15.2% in 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 during the last quarter. Vanguard Group Inc. increased its stake in shares of Acacia Research by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock valued at $11,980,000 after buying an additional 13,692 shares during the period. American Century Companies Inc. raised its position in shares of Acacia Research by 392.1% during the second quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock worth $712,000 after acquiring an additional 113,207 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Acacia Research during the second quarter valued at $354,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Acacia Research Price Performance

ACTG opened at $4.55 on Monday. The company has a fifty day moving average price of $4.59 and a two-hundred day moving average price of $4.91. The firm has a market capitalization of $443.03 million, a PE ratio of 8.59 and a beta of 0.53. Acacia Research Co. has a 52 week low of $3.58 and a 52 week high of $5.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.95 and a current ratio of 16.39.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Acacia Research from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th.

Insider Buying and Selling

In related news, Director Isaac T. Kohlberg sold 15,000 shares of Acacia Research stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $4.57, for a total transaction of $68,550.00. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is owned by insiders.

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.