Acacia Research Co. (NASDAQ:ACTG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in shares of Acacia Research Co. (NASDAQ:ACTG) by 41.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,266 shares of the business services provider’s stock after selling 28,125 shares during the quarter. Bank of America Corp DE’s holdings in Acacia Research were worth $175,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Acacia Research by 5.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider’s stock worth $232,000 after purchasing an additional 2,581 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Acacia Research by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider’s stock worth $96,000 after purchasing an additional 4,825 shares during the last quarter. Barclays PLC boosted its stake in Acacia Research by 14.1% during the 4th quarter. Barclays PLC now owns 56,787 shares of the business services provider’s stock worth $247,000 after purchasing an additional 6,999 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Acacia Research during the fourth quarter worth $56,000. Finally, MetLife Investment Management LLC raised its position in shares of Acacia Research by 204.1% in the fourth quarter. MetLife Investment Management LLC now owns 22,047 shares of the business services provider’s stock valued at $96,000 after buying an additional 14,797 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

Insiders Place Their Bets

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total value of $61,440.00. Following the transaction, the director now directly owns 85,446 shares in the company, valued at $328,112.64. The trade was a 15.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Acacia Research from a “buy” rating to a “hold” rating in a research report on Saturday, June 7th.

Acacia Research Trading Down 3.4%

ACTG opened at $3.68 on Monday. The firm has a market capitalization of $353.91 million, a price-to-earnings ratio of 6.94 and a beta of 0.64. The company’s 50 day simple moving average is $3.42 and its two-hundred day simple moving average is $3.88. Acacia Research Co. has a 1-year low of $2.70 and a 1-year high of $5.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.39 and a quick ratio of 15.95.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.38. Acacia Research had a return on equity of 10.35% and a net margin of 31.44%.

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.