Acacia Research Co. (NASDAQ:ACTG) Sees Significant Growth in Short Interest

Acacia Research Co. (NASDAQ:ACTG) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 692,600 shares, a growth of 14.6% from the May 31st total of 604,300 shares. Based on an average daily volume of 223,700 shares, the days-to-cover ratio is currently 3.1 days.

Insiders Place Their Bets

In other news, General Counsel Jason W. Soncini purchased 5,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were acquired at an average cost of $5.36 per share, with a total value of $26,800.00. Following the completion of the acquisition, the general counsel now owns 226,661 shares of the company’s stock, valued at $1,214,902.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Jason W. Soncini purchased 5,000 shares of the business’s stock in a transaction on Friday, May 17th. The shares were acquired at an average cost of $5.36 per share, with a total value of $26,800.00. Following the completion of the acquisition, the general counsel now owns 226,661 shares of the company’s stock, valued at $1,214,902.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Martin D. Jr. Mcnulty acquired 14,534 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were bought 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 disclosure for this purchase can be found here. Corporate insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Krilogy Financial LLC lifted its position in Acacia Research by 74.1% during the first quarter. Krilogy Financial LLC now owns 470,000 shares of the business services provider’s stock valued at $2,505,000 after purchasing an additional 200,000 shares during the period. Corsair Capital Management L.P. acquired a new position in shares of Acacia Research in the fourth quarter worth about $59,000. Toroso Investments LLC raised its position in shares of Acacia Research by 8.5% in the third quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock worth $2,023,000 after acquiring an additional 43,361 shares during the period. Salem Investment Counselors Inc. acquired a new position in shares of Acacia Research in the first quarter worth about $153,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Acacia Research in the first quarter worth about $136,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACTG has been the topic of a number of research analyst reports. Craig Hallum boosted their price objective on shares of Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 15th. StockNews.com raised shares of Acacia Research from a “hold” rating to a “buy” rating in a report on Monday, June 17th.

Acacia Research Trading Up 2.2 %

NASDAQ ACTG opened at $5.01 on Monday. The company has a market capitalization of $501.10 million, a PE ratio of 13.92 and a beta of 0.52. The company has a fifty day moving average of $5.21 and a 200 day moving average of $4.62. Acacia Research has a 1 year low of $3.43 and a 1 year high of $5.74. 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 earnings results on Thursday, May 9th. The business services provider reported $0.06 earnings per share (EPS) for the quarter. The company 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%.

Acacia Research Company Profile

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.