SG Americas Securities LLC purchased a new stake in shares of Acacia Research Corp (NASDAQ:ACTG) in the first quarter, Holdings Channel reports. The firm purchased 19,963 shares of the business services provider’s stock, valued at approximately $65,000.
A number of other hedge funds have also made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in Acacia Research by 279.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,107 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 7,446 shares in the last quarter. Rhumbline Advisers increased its stake in Acacia Research by 37.4% during the 4th quarter. Rhumbline Advisers now owns 70,958 shares of the business services provider’s stock valued at $211,000 after purchasing an additional 19,312 shares in the last quarter. Geode Capital Management LLC increased its stake in Acacia Research by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 556,383 shares of the business services provider’s stock valued at $1,658,000 after purchasing an additional 20,008 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Acacia Research during the 4th quarter valued at $312,000. Finally, Callodine Capital Management LP bought a new stake in Acacia Research during the 4th quarter valued at $313,000. Institutional investors and hedge funds own 60.09% of the company’s stock.
Shares of ACTG stock opened at $3.11 on Friday. Acacia Research Corp has a 12 month low of $2.75 and a 12 month high of $4.40.
Separately, ValuEngine lowered shares of Acacia Research from a “hold” rating to a “sell” rating in a research note on Monday, April 1st.
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About Acacia Research
Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engage in the licensing and enforcement of patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.
Further Reading: Cost of Equity
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