BNP Paribas Arbitrage SA Sells 19,072 Shares of Acacia Research Co. (NASDAQ:ACTG)

BNP Paribas Arbitrage SA trimmed its position in shares of Acacia Research Co. (NASDAQ:ACTG) by 77.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,444 shares of the business services provider’s stock after selling 19,072 shares during the period. BNP Paribas Arbitrage SA’s holdings in Acacia Research were worth $37,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Acacia Research by 13.3% during the 1st quarter. JPMorgan Chase & Co. now owns 164,444 shares of the business services provider’s stock valued at $1,094,000 after purchasing an additional 19,284 shares during the period. Keel Point LLC bought a new stake in shares of Acacia Research during the 2nd quarter valued at $6,556,000. Capital Wealth Alliance LLC raised its position in shares of Acacia Research by 4.4% during the 2nd quarter. Capital Wealth Alliance LLC now owns 328,645 shares of the business services provider’s stock valued at $1,909,000 after purchasing an additional 13,939 shares during the period. Geode Capital Management LLC raised its position in shares of Acacia Research by 12.9% during the 1st quarter. Geode Capital Management LLC now owns 795,593 shares of the business services provider’s stock valued at $5,290,000 after purchasing an additional 91,088 shares during the period. Finally, BlackRock Inc. raised its position in shares of Acacia Research by 19.5% during the 1st quarter. BlackRock Inc. now owns 3,037,905 shares of the business services provider’s stock valued at $20,203,000 after purchasing an additional 495,595 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Separately, TheStreet upgraded shares of Acacia Research from a “d” rating to a “c” rating in a report on Friday, September 3rd.

Shares of NASDAQ ACTG opened at $5.62 on Thursday. The company has a market cap of $278.79 million, a P/E ratio of -6.04 and a beta of 0.53. The firm’s fifty day moving average is $6.21 and its two-hundred day moving average is $6.04. Acacia Research Co. has a 52-week low of $3.06 and a 52-week high of $9.09.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings results on Sunday, August 15th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $17.40 million during the quarter. Acacia Research had a negative net margin of 107.81% and a negative return on equity of 21.60%.

Acacia Research Profile

Acacia Research Corp. engages in the acquisition, development, and patents technologies through its subsidiaries. Its operating subsidiaries assist patent owners with the prosecution and development of their patent portfolios, the protection of their patented inventions from unauthorized use, the generation of licensing revenue from users of their patented technologies and, if necessary, with the enforcement against unauthorized users of their patented technologies.

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Institutional Ownership by Quarter for Acacia Research (NASDAQ:ACTG)

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