Victory Capital Management Inc. Sells 4,996 Shares of Acacia Research Co. (NASDAQ:ACTG)

Victory Capital Management Inc. lowered its stake in Acacia Research Co. (NASDAQ:ACTG) by 28.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,517 shares of the business services provider’s stock after selling 4,996 shares during the period. Victory Capital Management Inc.’s holdings in Acacia Research were worth $58,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in Acacia Research during the second quarter worth about $83,000. Dimensional Fund Advisors LP boosted its position in shares of 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. Vanguard Group Inc. increased its stake in Acacia Research by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock valued at $11,980,000 after acquiring an additional 13,692 shares during the last quarter. American Century Companies Inc. raised its position in 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 valued at $712,000 after purchasing an additional 113,207 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Acacia Research during the second quarter worth $354,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Insider Buying and Selling

In other Acacia Research news, Director Isaac T. Kohlberg sold 15,000 shares of the stock in a transaction dated Monday, November 25th. The stock was 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 in the company, valued at approximately $316,582.18. This trade represents a 17.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.65% of the stock is currently owned by corporate insiders.

Acacia Research Trading Up 1.3 %

ACTG opened at $4.55 on Monday. The company’s 50 day moving average is $4.59 and its 200-day moving average is $4.91. The company has a market cap of $443.03 million, a P/E ratio of 8.59 and a beta of 0.53. Acacia Research Co. has a 1-year low of $3.58 and a 1-year 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.

Analyst Ratings Changes

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

Acacia Research 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.