Levin Capital Strategies L.P. Has $933,000 Stock Position in Acacia Research Co. (NASDAQ:ACTG)

Levin Capital Strategies L.P. cut its stake in Acacia Research Co. (NASDAQ:ACTG) by 35.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 238,000 shares of the business services provider’s stock after selling 129,119 shares during the period. Levin Capital Strategies L.P. owned about 0.24% of Acacia Research worth $933,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Formidable Asset Management LLC grew its position in Acacia Research by 1.6% during the 3rd quarter. Formidable Asset Management LLC now owns 1,755,935 shares of the business services provider’s stock worth $6,409,000 after acquiring an additional 27,078 shares during the last quarter. Roumell Asset Management LLC grew its position in Acacia Research by 22.2% during the 3rd quarter. Roumell Asset Management LLC now owns 727,463 shares of the business services provider’s stock worth $2,655,000 after acquiring an additional 132,112 shares during the last quarter. Toroso Investments LLC boosted its position in Acacia Research by 8.5% in the 3rd quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock valued at $2,023,000 after buying an additional 43,361 shares during the last quarter. Krilogy Financial LLC boosted its position in Acacia Research by 8.9% in the 3rd quarter. Krilogy Financial LLC now owns 268,750 shares of the business services provider’s stock valued at $981,000 after buying an additional 22,000 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its position in Acacia Research by 107.2% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 47,023 shares of the business services provider’s stock valued at $172,000 after buying an additional 24,330 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACTG. StockNews.com upgraded Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. Craig Hallum increased their price objective on Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, March 15th.

Acacia Research Trading Down 0.6 %

Shares of NASDAQ:ACTG traded down $0.03 during midday trading on Thursday, hitting $4.90. The company had a trading volume of 70,770 shares, compared to its average volume of 210,130. Acacia Research Co. has a 12 month low of $3.43 and a 12 month high of $5.47. The company has a current ratio of 20.07, a quick ratio of 19.67 and a debt-to-equity ratio of 0.02. The stock has a market cap of $490.10 million, a price-to-earnings ratio of 17.00 and a beta of 0.50. The firm has a fifty day simple moving average of $4.73 and a 200 day simple moving average of $4.14.

Acacia Research (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, March 14th. The business services provider reported $0.67 EPS for the quarter. The business had revenue of $92.31 million for the quarter. Acacia Research had a return on equity of 11.47% and a net margin of 48.92%.

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.