Pacific Ridge Capital Partners LLC Sells 45,094 Shares of Acacia Research Corporation (NASDAQ:ACTG)

Pacific Ridge Capital Partners LLC lowered its stake in Acacia Research Corporation (NASDAQ:ACTG) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 959,401 shares of the business services provider’s stock after selling 45,094 shares during the period. Pacific Ridge Capital Partners LLC owned 1.00% of Acacia Research worth $3,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Acacia Research by 5.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 2,581 shares in the last quarter. Wells Fargo & Company MN raised its position in Acacia Research by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 4,825 shares during the last quarter. Barclays PLC raised its position in Acacia Research by 14.1% in the fourth quarter. Barclays PLC now owns 56,787 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 6,999 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Acacia Research during the fourth quarter valued at about $40,000. Finally, Formidable Asset Management LLC grew its holdings in shares of Acacia Research by 1.0% during the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider’s stock worth $4,353,000 after purchasing an additional 10,257 shares during the last quarter. Institutional investors own 86.69% of the company’s stock.

Insider Activity at Acacia Research

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total transaction of $61,440.00. Following the completion of the sale, the director owned 85,446 shares of the company’s stock, valued at approximately $328,112.64. This represents a 15.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Acacia Research Price Performance

ACTG stock opened at $3.43 on Friday. The company has a market capitalization of $329.86 million, a P/E ratio of -31.18 and a beta of 0.61. The company has a fifty day moving average price of $3.72 and a 200-day moving average price of $3.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.81 and a current ratio of 6.16. Acacia Research Corporation has a 52-week low of $2.70 and a 52-week high of $5.36.

Acacia Research (NASDAQ:ACTG) last announced its earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.38. Acacia Research had a positive return on equity of 2.09% and a negative net margin of 5.21%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st.

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.