Acacia Research Corp (NASDAQ:ACTG) shares rose 6.6% during trading on Friday . The stock traded as high as $2.87 and last traded at $2.74, approximately 125,792 shares were traded during mid-day trading. An increase of 5% from the average daily volume of 119,294 shares. The stock had previously closed at $2.57.
The firm has a fifty day moving average price of $2.68 and a 200 day moving average price of $2.94.
Acacia Research (NASDAQ:ACTG) last announced its earnings results on Monday, August 5th. The business services provider reported ($0.05) EPS for the quarter. The business had revenue of $5.46 million during the quarter. Acacia Research had a negative return on equity of 7.79% and a negative net margin of 76.22%.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its holdings 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 worth $33,000 after buying an additional 7,446 shares in the last quarter. Wolverine Trading LLC lifted its holdings in Acacia Research by 186.1% during the 2nd quarter. Wolverine Trading LLC now owns 11,013 shares of the business services provider’s stock worth $33,000 after buying an additional 23,811 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Acacia Research by 209.8% during the 2nd quarter. Citadel Advisors LLC now owns 18,771 shares of the business services provider’s stock worth $56,000 after buying an additional 35,871 shares in the last quarter. SG Americas Securities LLC acquired a new position in Acacia Research during the 1st quarter worth $65,000. Finally, Marshall Wace LLP acquired a new position in Acacia Research during the 1st quarter worth $168,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.
About Acacia Research (NASDAQ:ACTG)
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.
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