Bank of New York Mellon Corp Grows Position in Acacia Research Co. (NASDAQ:ACTG)

Bank of New York Mellon Corp increased its holdings in Acacia Research Co. (NASDAQ:ACTG) by 142.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 247,099 shares of the business services provider’s stock after buying an additional 145,216 shares during the quarter. Bank of New York Mellon Corp owned about 0.25% of Acacia Research worth $1,072,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Peapod Lane Capital LLC bought a new stake in shares of Acacia Research in the fourth quarter worth approximately $1,033,000. Empowered Funds LLC boosted its holdings in Acacia Research by 113.0% in the fourth quarter. Empowered Funds LLC now owns 163,076 shares of the business services provider’s stock worth $708,000 after purchasing an additional 86,531 shares during the last quarter. SG Americas Securities LLC grew its position in Acacia Research by 28.1% in the 4th quarter. SG Americas Securities LLC now owns 19,735 shares of the business services provider’s stock worth $86,000 after purchasing an additional 4,327 shares during the period. Krilogy Financial LLC raised its stake in Acacia Research by 7.2% during the 4th quarter. Krilogy Financial LLC now owns 1,038,000 shares of the business services provider’s stock valued at $4,505,000 after buying an additional 69,400 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Acacia Research by 8.7% during the 3rd quarter. Tidal Investments LLC now owns 393,584 shares of the business services provider’s stock valued at $1,834,000 after buying an additional 31,352 shares during the period. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Acacia Research from a “hold” rating to a “sell” rating in a report on Saturday.

Acacia Research Stock Down 0.6 %

Shares of ACTG stock opened at $3.40 on Tuesday. The company has a 50 day simple moving average of $4.15 and a two-hundred day simple moving average of $4.40. The stock has a market cap of $326.69 million, a P/E ratio of 6.42 and a beta of 0.49. Acacia Research Co. has a 12 month low of $3.37 and a 12 month 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.

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.