Permanent Capital Management LP Acquires New Holdings in Acacia Research Corporation $ACTG

Permanent Capital Management LP acquired a new position in Acacia Research Corporation (NASDAQ:ACTG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 405,345 shares of the business services provider’s stock, valued at approximately $1,317,000. Permanent Capital Management LP owned approximately 0.42% of Acacia Research as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ACTG. Peapod Lane Capital LLC raised its position in shares of Acacia Research by 65.0% in the 2nd quarter. Peapod Lane Capital LLC now owns 718,192 shares of the business services provider’s stock worth $2,571,000 after acquiring an additional 282,913 shares in the last quarter. Krilogy Financial LLC raised its holdings in Acacia Research by 20.8% in the second quarter. Krilogy Financial LLC now owns 1,398,559 shares of the business services provider’s stock worth $5,007,000 after purchasing an additional 240,535 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Acacia Research during the second quarter valued at about $614,000. Corsair Capital Management L.P. bought a new stake in shares of Acacia Research in the 2nd quarter valued at about $280,000. Finally, Nuveen LLC purchased a new position in shares of Acacia Research in the 1st quarter worth approximately $224,000. Institutional investors own 86.69% of the company’s stock.

Acacia Research Price Performance

NASDAQ ACTG opened at $3.73 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.63 and a quick ratio of 8.11. The stock’s fifty day moving average price is $3.64 and its 200 day moving average price is $3.54. Acacia Research Corporation has a 1 year low of $2.70 and a 1 year high of $4.53. The company has a market cap of $359.80 million, a price-to-earnings ratio of 74.61 and a beta of 0.49.

Acacia Research (NASDAQ:ACTG) last issued its quarterly earnings results on Wednesday, November 5th. The business services provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.13. The company had revenue of $59.45 million during the quarter, compared to analysts’ expectations of $38.00 million. Acacia Research had a return on equity of 2.45% and a net margin of 1.70%.

Analysts Set New Price Targets

Several research analysts recently commented on ACTG shares. Wall Street Zen upgraded shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Acacia Research in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Acacia Research

Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.

The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.