TIAA CREF Investment Management LLC increased its stake in shares of Acacia Research Corporation (NASDAQ:ACTG) by 19.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,234 shares of the business services provider’s stock after buying an additional 51,867 shares during the quarter. TIAA CREF Investment Management LLC owned 0.62% of Acacia Research Corporation worth $1,284,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. KCG Holdings Inc. increased its stake in shares of Acacia Research Corporation by 51.7% in the 1st quarter. KCG Holdings Inc. now owns 21,822 shares of the business services provider’s stock valued at $125,000 after buying an additional 7,440 shares during the period. Alliancebernstein L.P. boosted its position in shares of Acacia Research Corporation by 105.3% in the 2nd quarter. Alliancebernstein L.P. now owns 37,241 shares of the business services provider’s stock worth $153,000 after purchasing an additional 19,100 shares during the last quarter. American International Group Inc. boosted its position in shares of Acacia Research Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 30,748 shares of the business services provider’s stock worth $177,000 after purchasing an additional 2,028 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Acacia Research Corporation by 10.9% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 38,344 shares of the business services provider’s stock worth $220,000 after purchasing an additional 3,784 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Acacia Research Corporation in the 2nd quarter worth $268,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
Acacia Research Corporation (ACTG) opened at $4.20 on Friday. The stock has a market cap of $210.01, a price-to-earnings ratio of 1.41 and a beta of 1.24. Acacia Research Corporation has a 1-year low of $2.90 and a 1-year high of $7.68.
In other Acacia Research Corporation news, Director G Louis Graziadio III purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $3.08 per share, for a total transaction of $30,800.00. Following the acquisition, the director now owns 486,701 shares in the company, valued at approximately $1,499,039.08. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank E. Walsh III acquired 25,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were bought at an average cost of $3.98 per share, for a total transaction of $99,500.00. Following the transaction, the director now directly owns 383,961 shares in the company, valued at $1,528,164.78. The disclosure for this purchase can be found here. Insiders have bought 147,250 shares of company stock valued at $520,303 over the last quarter. Company insiders own 2.81% of the company’s stock.
Several research analysts have weighed in on ACTG shares. Zacks Investment Research upgraded Acacia Research Corporation from a “sell” rating to a “hold” rating in a report on Monday. Barclays PLC restated a “sell” rating and issued a $5.00 price target on shares of Acacia Research Corporation in a report on Tuesday, October 31st. ValuEngine downgraded Acacia Research Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, TheStreet raised Acacia Research Corporation from a “d” rating to a “c-” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.50.
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Acacia Research Corporation Profile
Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.
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