The Manufacturers Life Insurance Company Buys Shares of 16,590 Acacia Research Co. (NASDAQ:ACTG)

The Manufacturers Life Insurance Company bought a new stake in Acacia Research Co. (NASDAQ:ACTG) in the second quarter, Holdings Channel reports. The fund bought 16,590 shares of the business services provider’s stock, valued at approximately $83,000.

Several other large investors have also recently bought and sold shares of ACTG. Innealta Capital LLC bought a new position in shares of Acacia Research in the second quarter valued at approximately $43,000. Victory Capital Management Inc. boosted its stake in Acacia Research by 36.0% during the second quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock valued at $88,000 after buying an additional 4,638 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Acacia Research during the first quarter worth about $136,000. BNP Paribas Financial Markets grew its stake in shares of Acacia Research by 146.4% in the 1st quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after purchasing an additional 16,735 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new stake in Acacia Research during the first quarter worth approximately $153,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Acacia Research Price Performance

NASDAQ ACTG opened at $4.73 on Monday. The company has a 50 day simple moving average of $4.67 and a 200-day simple moving average of $5.01. Acacia Research Co. has a 52-week low of $3.43 and a 52-week high of $5.74. The firm has a market capitalization of $473.10 million, a price-to-earnings ratio of 13.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.17 and a quick ratio of 10.90.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share for the quarter. The company had revenue of $25.84 million during the quarter. Acacia Research had a return on equity of 12.00% and a net margin of 44.42%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Acacia Research from a “hold” rating to a “sell” rating in a report on Friday, October 11th.

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.