Baillie Gifford & Co. Has $1,500,000 Stake in Acacia Research Corporation (ACTG)

Baillie Gifford & Co. continued to hold its stake in Acacia Research Corporation (NASDAQ:ACTG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 365,820 shares of the business services provider’s stock at the close of the 2nd quarter. Baillie Gifford & Co. owned about 0.72% of Acacia Research Corporation worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pacific Ridge Capital Partners LLC boosted its position in shares of Acacia Research Corporation by 35.8% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 927,985 shares of the business services provider’s stock worth $5,336,000 after purchasing an additional 244,525 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Acacia Research Corporation by 3.1% during the 1st quarter. Renaissance Technologies LLC now owns 3,505,600 shares of the business services provider’s stock worth $20,157,000 after purchasing an additional 103,800 shares in the last quarter. CWM LLC boosted its position in shares of Acacia Research Corporation by 5.5% during the 2nd quarter. CWM LLC now owns 1,847,096 shares of the business services provider’s stock worth $7,573,000 after purchasing an additional 95,957 shares in the last quarter. AXA boosted its position in shares of Acacia Research Corporation by 243.4% during the 2nd quarter. AXA now owns 110,918 shares of the business services provider’s stock worth $455,000 after purchasing an additional 78,618 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Acacia Research Corporation during the 2nd quarter worth about $303,000. 70.91% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on ACTG. Northland Securities set a $8.00 price objective on shares of Acacia Research Corporation and gave the stock a “buy” rating in a research report on Monday, July 10th. Zacks Investment Research raised shares of Acacia Research Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine cut shares of Acacia Research Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd.

In other Acacia Research Corporation news, Director G Louis Graziadio III acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average price of $3.08 per share, with a total value of $30,800.00. Following the completion of the purchase, the director now directly owns 486,701 shares of the company’s stock, valued at approximately $1,499,039.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank E. Walsh III acquired 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were acquired at an average cost of $3.32 per share, for a total transaction of $83,000.00. Following the purchase, the director now directly owns 358,961 shares of the company’s stock, valued at $1,191,750.52. The disclosure for this purchase can be found here. Insiders have purchased 90,150 shares of company stock worth $293,553 in the last three months. 7.67% of the stock is currently owned by insiders.

Shares of Acacia Research Corporation (ACTG) opened at 3.85 on Tuesday. Acacia Research Corporation has a 12-month low of $2.90 and a 12-month high of $7.68. The company has a 50 day moving average of $3.34 and a 200-day moving average of $4.44. The firm’s market cap is $194.80 million.

Acacia Research Corporation (NASDAQ:ACTG) last posted its quarterly earnings data on Thursday, July 27th. The business services provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.08 by $0.25. Acacia Research Corporation had a negative return on equity of 1.06% and a negative net margin of 25.64%. The business had revenue of $16.46 million for the quarter, compared to the consensus estimate of $5 million. During the same period in the previous year, the firm earned $0.23 EPS. The company’s revenue was down 60.2% on a year-over-year basis. Analysts predict that Acacia Research Corporation will post $0.02 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Baillie Gifford & Co. Has $1,500,000 Stake in Acacia Research Corporation (ACTG)” was first reported by Markets Daily and is owned by of Markets Daily. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.themarketsdaily.com/2017/09/12/baillie-gifford-co-has-1500000-stake-in-acacia-research-corporation-actg.html.

Acacia Research Corporation Profile

Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.

Want to see what other hedge funds are holding ACTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acacia Research Corporation (NASDAQ:ACTG).

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

Receive News & Ratings for Acacia Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Research Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply