Short Interest in Acacia Research Co. (NASDAQ:ACTG) Increases By 41.1%

Acacia Research Co. (NASDAQ:ACTGGet Rating) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 930,700 shares, a growth of 41.1% from the August 15th total of 659,400 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 471,500 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of Acacia Research

Institutional investors have recently made changes to their positions in the business. Millennium Management LLC raised its position in Acacia Research by 706.7% during the second quarter. Millennium Management LLC now owns 607,627 shares of the business services provider’s stock worth $3,062,000 after acquiring an additional 532,301 shares in the last quarter. Formidable Asset Management LLC raised its stake in Acacia Research by 23.8% in the 1st quarter. Formidable Asset Management LLC now owns 1,948,076 shares of the business services provider’s stock valued at $8,786,000 after acquiring an additional 374,623 shares during the period. Westerly Capital Management LLC bought a new stake in shares of Acacia Research during the first quarter valued at about $1,240,000. Vanguard Group Inc. increased its position in shares of Acacia Research by 8.7% during the first quarter. Vanguard Group Inc. now owns 2,536,626 shares of the business services provider’s stock valued at $11,440,000 after buying an additional 203,300 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Acacia Research by 318.8% in the second quarter. Cubist Systematic Strategies LLC now owns 207,699 shares of the business services provider’s stock worth $1,047,000 after buying an additional 158,109 shares in the last quarter. 55.88% of the stock is currently owned by institutional investors and hedge funds.

Acacia Research Price Performance

NASDAQ ACTG opened at $4.16 on Friday. The firm has a market capitalization of $159.35 million, a price-to-earnings ratio of -2.39 and a beta of 0.40. The company’s fifty day moving average is $4.71 and its two-hundred day moving average is $4.50. Acacia Research has a 52-week low of $3.30 and a 52-week high of $7.54.

Acacia Research (NASDAQ:ACTGGet Rating) last posted its quarterly earnings results on Thursday, August 11th. The business services provider reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.56). Acacia Research had a return on equity of 10.97% and a net margin of 167.82%.

About Acacia Research

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Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through two segments, Intellectual Property Operations and Industrial Operations.

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