Geode Capital Management LLC Lowers Stake in Acacia Research Co. (NASDAQ:ACTG)

Geode Capital Management LLC lessened its holdings in Acacia Research Co. (NASDAQ:ACTG) by 0.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 917,406 shares of the business services provider’s stock after selling 7,399 shares during the period. Geode Capital Management LLC owned 0.94% of Acacia Research worth $4,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atom Investors LP bought a new stake in Acacia Research in the 3rd quarter valued at $56,000. The Manufacturers Life Insurance Company bought a new stake in Acacia Research in the 2nd quarter worth approximately $83,000. Victory Capital Management Inc. raised its holdings in shares of 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 worth $88,000 after acquiring an additional 4,638 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Acacia Research during the 3rd quarter valued at approximately $117,000. Finally, XTX Topco Ltd bought a new position in shares of Acacia Research during the 2nd quarter valued at approximately $174,000. 86.69% of the stock is owned by institutional investors.

Acacia Research Price Performance

Shares of ACTG stock opened at $4.32 on Monday. The stock has a 50 day moving average price of $4.49 and a 200 day moving average price of $4.74. Acacia Research Co. has a 52-week low of $3.65 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. The firm has a market capitalization of $420.63 million, a P/E ratio of 8.15 and a beta of 0.52.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Isaac T. Kohlberg sold 15,000 shares of the firm’s 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 directly owns 69,274 shares of the company’s stock, valued at approximately $316,582.18. This trade represents a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.65% of the company’s stock.

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.