Arrowstreet Capital Limited Partnership cut its holdings in Acacia Research Co. (NASDAQ:ACTG) by 37.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 288,060 shares of the business services provider’s stock after selling 173,123 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Acacia Research were worth $1,916,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of ACTG. First Quadrant L P CA acquired a new position in Acacia Research in the 1st quarter valued at $27,000. Citigroup Inc. raised its holdings in Acacia Research by 202.4% in the 4th quarter. Citigroup Inc. now owns 9,401 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 6,292 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Acacia Research during the 4th quarter valued at $50,000. HighVista Strategies LLC purchased a new stake in shares of Acacia Research during the 4th quarter valued at $55,000. Finally, Credit Suisse AG purchased a new stake in shares of Acacia Research during the 4th quarter valued at $82,000. Institutional investors own 60.68% of the company’s stock.
Shares of NASDAQ ACTG opened at $6.23 on Thursday. Acacia Research Co. has a 52-week low of $3.06 and a 52-week high of $9.09. The company’s fifty day moving average is $5.92.
In related news, CFO Richard Jay Rosenstein sold 9,600 shares of the company’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $5.51, for a total transaction of $52,896.00. Following the completion of the sale, the chief financial officer now directly owns 76,900 shares of the company’s stock, valued at approximately $423,719. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marc W. Booth sold 5,909 shares of the company’s stock in a transaction on Friday, June 18th. The stock was sold at an average price of $6.10, for a total transaction of $36,044.90. Following the sale, the insider now directly owns 185,368 shares of the company’s stock, valued at $1,130,744.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,082 shares of company stock valued at $115,098. 1.42% of the stock is owned by corporate insiders.
Separately, TheStreet cut shares of Acacia Research from a “c” rating to a “d” rating in a research note on Wednesday, May 26th.
Acacia Research Profile
Acacia Research Corporation, together with its subsidiaries, intends to acquire undervalued businesses primarily in technology, life sciences, industrial, and financial services segments in the United States. The company also invests in intellectual property and related absolute return assets, as well as engages in the licensing and enforcement of patented technologies.
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