American Century Companies Inc. Buys 24,884 Shares of Acacia Research Corporation $ACTG

American Century Companies Inc. lifted its position in Acacia Research Corporation (NASDAQ:ACTG) by 5.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 464,416 shares of the business services provider’s stock after purchasing an additional 24,884 shares during the period. American Century Companies Inc. owned about 0.48% of Acacia Research worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Acacia Research by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,673 shares of the business services provider’s stock valued at $9,985,000 after acquiring an additional 220,579 shares during the period. Krilogy Financial LLC grew its stake in shares of Acacia Research by 11.6% in the first quarter. Krilogy Financial LLC now owns 1,158,024 shares of the business services provider’s stock worth $3,706,000 after purchasing an additional 120,024 shares during the last quarter. Formidable Asset Management LLC grew its position in shares of Acacia Research by 1.0% in the 4th quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider’s stock worth $4,353,000 after buying an additional 10,257 shares during the last quarter. Peapod Lane Capital LLC grew its position in shares of Acacia Research by 82.9% in the 1st quarter. Peapod Lane Capital LLC now owns 435,279 shares of the business services provider’s stock worth $1,393,000 after buying an additional 197,268 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Acacia Research by 6.2% during the fourth quarter. Tidal Investments LLC now owns 418,143 shares of the business services provider’s stock valued at $1,815,000 after buying an additional 24,559 shares during the period. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Stock Down 2.3%

Shares of NASDAQ:ACTG opened at $3.33 on Wednesday. The firm has a market capitalization of $321.15 million, a P/E ratio of -55.49 and a beta of 0.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.29 and a current ratio of 8.80. The stock has a 50 day moving average price of $3.55 and a 200-day moving average price of $3.56. Acacia Research Corporation has a 52-week low of $2.70 and a 52-week high of $5.36.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Acacia Research from a “buy” rating to a “hold” rating in a report on Saturday, August 9th.

Insider Transactions at Acacia Research

In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total transaction of $61,440.00. Following the completion of the transaction, the director owned 85,446 shares of the company’s stock, valued at approximately $328,112.64. This trade represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.65% of the company’s stock.

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.