Empowered Funds LLC Sells 109,251 Shares of Acacia Research Co. (NASDAQ:ACTG)

Empowered Funds LLC cut its position in Acacia Research Co. (NASDAQ:ACTG) by 58.8% in the third quarter, HoldingsChannel.com reports. The firm owned 76,545 shares of the business services provider’s stock after selling 109,251 shares during the quarter. Empowered Funds LLC’s holdings in Acacia Research were worth $357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in Acacia Research during the second quarter valued at about $43,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Acacia Research during the second quarter worth about $83,000. Victory Capital Management Inc. raised its stake in Acacia Research by 36.0% during the 2nd quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 4,638 shares during the period. XTX Topco Ltd purchased a new position in Acacia Research in the 2nd quarter worth approximately $174,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Acacia Research by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock worth $338,000 after purchasing an additional 3,018 shares during the period. 86.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Acacia Research from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th.

Acacia Research Stock Up 0.4 %

ACTG opened at $4.58 on Tuesday. The company has a market capitalization of $445.95 million, a PE ratio of 8.64 and a beta of 0.53. The firm has a 50-day simple moving average of $4.60 and a two-hundred day simple moving average of $4.93. The company has a quick ratio of 15.95, a current ratio of 16.39 and a debt-to-equity ratio of 0.12. Acacia Research Co. has a 52 week low of $3.58 and a 52 week high of $5.74.

Acacia Research Profile

Acacia is a publicly traded (Nasdaq: ACTG) company that is focused on acquiring and operating businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon.