Aegis Financial Corp Buys New Position in Acacia Research Corporation $ACTG

Aegis Financial Corp bought a new stake in shares of Acacia Research Corporation (NASDAQ:ACTG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 491,086 shares of the business services provider’s stock, valued at approximately $2,362,000. Acacia Research accounts for about 0.4% of Aegis Financial Corp’s investment portfolio, making the stock its 25th biggest holding. Aegis Financial Corp owned approximately 0.51% of Acacia Research at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Acacia Research during the first quarter worth $35,000. Empowered Funds LLC raised its position in shares of Acacia Research by 8.9% in the 1st quarter. Empowered Funds LLC now owns 177,666 shares of the business services provider’s stock worth $569,000 after acquiring an additional 14,590 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Acacia Research in the 1st quarter worth about $169,000. American Century Companies Inc. lifted its stake in shares of Acacia Research by 6.4% in the 2nd quarter. American Century Companies Inc. now owns 494,075 shares of the business services provider’s stock valued at $1,769,000 after purchasing an additional 29,659 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Acacia Research by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 114,872 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 3,113 shares during the period. Institutional investors own 86.69% of the company’s stock.

Acacia Research Stock Down 0.7%

ACTG stock opened at $4.57 on Thursday. The stock’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $4.50. Acacia Research Corporation has a fifty-two week low of $3.12 and a fifty-two week high of $5.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 8.09 and a current ratio of 8.56. The company has a market cap of $441.42 million, a P/E ratio of -25.39 and a beta of 0.43.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Acacia Research had a negative return on equity of 2.81% and a negative net margin of 8.53%.The firm had revenue of $54.24 million during the quarter, compared to analysts’ expectations of $50.00 million. During the same quarter last year, the firm posted $0.25 earnings per share.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.00.

Acacia Research Company Profile

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.