Nuveen LLC Makes New Investment in Acacia Research Corporation $ACTG

Nuveen LLC purchased a new position in shares of Acacia Research Corporation (NASDAQ:ACTG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 69,902 shares of the business services provider’s stock, valued at approximately $224,000. Nuveen LLC owned about 0.07% of Acacia Research as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ACTG. Deutsche Bank AG bought a new stake in Acacia Research during the fourth quarter worth about $40,000. ProShare Advisors LLC bought a new stake in Acacia Research during the fourth quarter worth about $46,000. Raymond James Financial Inc. bought a new stake in Acacia Research during the fourth quarter worth about $74,000. Wells Fargo & Company MN lifted its stake in Acacia Research by 27.8% during the fourth 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. Finally, MetLife Investment Management LLC lifted its stake in Acacia Research by 204.1% during the fourth quarter. MetLife Investment Management LLC now owns 22,047 shares of the business services provider’s stock worth $96,000 after purchasing an additional 14,797 shares during the last quarter. Institutional investors own 86.69% of the company’s stock.

Insider Activity at Acacia Research

In related news, Director Isaac T. Kohlberg sold 16,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total transaction of $61,440.00. Following the transaction, the director owned 85,446 shares in the company, valued at $328,112.64. The trade was a 15.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

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.

Acacia Research Stock Down 1.2%

ACTG opened at $3.30 on Friday. The company has a market cap of $318.25 million, a P/E ratio of -54.99 and a beta of 0.65. The business’s 50-day moving average price is $3.53 and its 200-day moving average price is $3.54. The company has a current ratio of 8.80, a quick ratio of 8.29 and a debt-to-equity ratio of 0.18. Acacia Research Corporation has a 12 month low of $2.70 and a 12 month high of $5.36.

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.