Empowered Funds LLC Decreases Stake in Acacia Research Co. (NASDAQ:ACTG)

Empowered Funds LLC reduced its holdings in shares of Acacia Research Co. (NASDAQ:ACTG) by 58.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,545 shares of the business services provider’s stock after selling 109,251 shares during the quarter. Empowered Funds LLC owned 0.08% of Acacia Research worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in Acacia Research during the 2nd quarter valued at about $83,000. Dimensional Fund Advisors LP lifted its position in Acacia Research by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock valued at $8,878,000 after purchasing an additional 233,759 shares during the period. Vanguard Group Inc. boosted its holdings 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 worth $11,980,000 after purchasing an additional 13,692 shares during the last quarter. American Century Companies Inc. grew its position in 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 period. Finally, Los Angeles Capital Management LLC purchased a new stake in Acacia Research during the 2nd quarter valued at $354,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Stock Up 0.4 %

Shares of ACTG stock opened at $4.58 on Tuesday. 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 Co. has a 12 month low of $3.58 and a 12 month high of $5.74. The stock has a market cap of $445.95 million, a P/E ratio of 8.64 and a beta of 0.53. The company has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $4.93.

Analyst Upgrades and Downgrades

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

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.