Tidal Investments LLC Sells 31,377 Shares of Acacia Research Co. (NASDAQ:ACTG)

Tidal Investments LLC decreased its stake in Acacia Research Co. (NASDAQ:ACTG) by 5.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 502,067 shares of the business services provider’s stock after selling 31,377 shares during the quarter. Tidal Investments LLC’s holdings in Acacia Research were worth $2,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACTG. Corsair Capital Management L.P. bought a new position in shares of Acacia Research during the fourth quarter valued at $59,000. Counterpoint Mutual Funds LLC bought a new position in shares of Acacia Research during the first quarter valued at $136,000. BNP Paribas Financial Markets raised its stake in Acacia Research by 146.4% during the first quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after buying an additional 16,735 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Acacia Research during the first quarter worth $153,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Acacia Research by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock worth $338,000 after buying an additional 3,018 shares during the last quarter. Institutional investors own 86.69% of the company’s stock.

Acacia Research Trading Down 3.4 %

NASDAQ ACTG traded down $0.18 during mid-day trading on Thursday, reaching $5.17. 43,861 shares of the stock were exchanged, compared to its average volume of 223,821. Acacia Research Co. has a one year low of $3.43 and a one year high of $5.74. The stock has a 50 day simple moving average of $5.30 and a 200-day simple moving average of $4.84. The stock has a market cap of $517.10 million, a P/E ratio of 14.86 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.40 and a quick ratio of 21.02.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.06 EPS for the quarter. The business had revenue of $24.32 million during the quarter. Acacia Research had a net margin of 40.89% and a return on equity of 13.02%.

Insiders Place Their Bets

In related news, CEO Martin D. Jr. Mcnulty purchased 14,534 shares of Acacia Research stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $5.25 per share, for a total transaction of $76,303.50. Following the completion of the acquisition, the chief executive officer now owns 193,699 shares of the company’s stock, valued at approximately $1,016,919.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Acacia Research news, CEO Martin D. Jr. Mcnulty acquired 14,534 shares of Acacia Research stock in a transaction dated Thursday, May 16th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $76,303.50. Following the completion of the acquisition, the chief executive officer now directly owns 193,699 shares of the company’s stock, valued at $1,016,919.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Jason W. Soncini acquired 5,000 shares of Acacia Research stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $5.36 per share, with a total value of $26,800.00. Following the completion of the acquisition, the general counsel now directly owns 226,661 shares of the company’s stock, valued at $1,214,902.96. The disclosure for this purchase can be found here. Corporate insiders own 1.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Acacia Research from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd.

About Acacia Research

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.