Bank of New York Mellon Corp Buys 145,216 Shares of Acacia Research Co. (NASDAQ:ACTG)

Bank of New York Mellon Corp grew its position in Acacia Research Co. (NASDAQ:ACTG - Free Report) by 142.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,099 shares of the business services provider's stock after purchasing an additional 145,216 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Acacia Research worth $1,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd boosted its holdings in shares of Acacia Research by 7.4% in the third quarter. XTX Topco Ltd now owns 37,277 shares of the business services provider's stock valued at $174,000 after buying an additional 2,565 shares during the period. SG Americas Securities LLC grew its stake in shares of Acacia Research by 28.1% during the 4th quarter. SG Americas Securities LLC now owns 19,735 shares of the business services provider's stock worth $86,000 after acquiring an additional 4,327 shares in the last quarter. Atom Investors LP acquired a new stake in shares of Acacia Research in the third quarter valued at approximately $56,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Acacia Research in the third quarter worth $117,000. Finally, Tidal Investments LLC boosted its holdings in Acacia Research by 8.7% during 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 during the last quarter. 86.69% of the stock is owned by institutional investors.

Acacia Research Stock Down 1.5 %

NASDAQ ACTG traded down $0.05 during trading hours on Friday, hitting $3.31. 134,095 shares of the company traded hands, compared to its average volume of 255,933. The stock has a market capitalization of $318.04 million, a price-to-earnings ratio of 6.25 and a beta of 0.49. Acacia Research Co. has a twelve month low of $3.28 and a twelve month high of $5.74. The business's 50-day moving average is $4.09 and its 200-day moving average is $4.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.95 and a current ratio of 16.39.

Remove Ads

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Acacia Research from a "hold" rating to a "sell" rating in a research note on Saturday, March 22nd.

Acacia Research 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.