Empowered Funds LLC Boosts Stock Position in Acacia Research Co. (NASDAQ:ACTG)

Empowered Funds LLC lifted its stake in shares of Acacia Research Co. (NASDAQ:ACTG - Free Report) by 113.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,076 shares of the business services provider's stock after acquiring an additional 86,531 shares during the quarter. Empowered Funds LLC owned approximately 0.17% of Acacia Research worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its holdings in Acacia Research by 9.2% in the third quarter. State Street Corp now owns 3,151,647 shares of the business services provider's stock worth $14,687,000 after purchasing an additional 265,993 shares in the last quarter. Krilogy Financial LLC increased its holdings in Acacia Research by 7.2% in the fourth quarter. Krilogy Financial LLC now owns 1,038,000 shares of the business services provider's stock worth $4,505,000 after purchasing an additional 69,400 shares in the last quarter. Tidal Investments LLC increased its holdings in Acacia Research by 8.7% in the third quarter. Tidal Investments LLC now owns 393,584 shares of the business services provider's stock worth $1,834,000 after purchasing an additional 31,352 shares in the last quarter. Jane Street Group LLC increased its holdings in Acacia Research by 141.7% in the third quarter. Jane Street Group LLC now owns 76,818 shares of the business services provider's stock worth $358,000 after purchasing an additional 45,031 shares in the last quarter. Finally, Barclays PLC increased its holdings in Acacia Research by 253.0% in the third quarter. Barclays PLC now owns 49,788 shares of the business services provider's stock worth $232,000 after purchasing an additional 35,685 shares in the last quarter. 86.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Acacia Research from a "hold" rating to a "sell" rating in a research note on Wednesday, January 15th.

Acacia Research Stock Down 3.0 %

Acacia Research stock traded down $0.13 during mid-day trading on Friday, reaching $4.21. The stock had a trading volume of 113,104 shares, compared to its average volume of 133,980. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.95 and a current ratio of 16.39. Acacia Research Co. has a fifty-two week low of $3.92 and a fifty-two week high of $5.74. The stock's 50-day simple moving average is $4.35 and its 200-day simple moving average is $4.53. The firm has a market capitalization of $409.93 million, a PE ratio of 7.94 and a beta of 0.51.

Insider Activity at Acacia Research

In related news, Director Isaac T. Kohlberg sold 15,000 shares of Acacia Research stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.57, for a total transaction of $68,550.00. Following the transaction, the director now owns 69,274 shares of the company's stock, valued at $316,582.18. The trade was a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.65% of the stock is owned by insiders.

Acacia Research Company Profile

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.