Levin Capital Strategies L.P. Sells 70,691 Shares of Acacia Research Co. (NASDAQ:ACTG)

Levin Capital Strategies L.P. decreased its holdings in shares of Acacia Research Co. (NASDAQ:ACTG) by 32.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 150,000 shares of the business services provider’s stock after selling 70,691 shares during the quarter. Levin Capital Strategies L.P. owned 0.15% of Acacia Research worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Acacia Research by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock valued at $11,980,000 after purchasing an additional 13,692 shares during the period. Krilogy Financial LLC grew its holdings in Acacia Research by 73.0% during the 2nd quarter. Krilogy Financial LLC now owns 813,000 shares of the business services provider’s stock worth $4,073,000 after acquiring an additional 343,000 shares in the last quarter. Acuitas Investments LLC lifted its position in shares of Acacia Research by 0.5% in the 2nd quarter. Acuitas Investments LLC now owns 497,916 shares of the business services provider’s stock worth $2,495,000 after purchasing an additional 2,699 shares during the period. Empowered Funds LLC boosted its stake in shares of Acacia Research by 8.1% during the first quarter. Empowered Funds LLC now owns 172,476 shares of the business services provider’s stock valued at $919,000 after purchasing an additional 12,950 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Acacia Research by 18.2% during the second quarter. Bank of New York Mellon Corp now owns 124,099 shares of the business services provider’s stock valued at $622,000 after buying an additional 19,134 shares during the period. 86.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Acacia Research from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

Acacia Research Price Performance

Shares of ACTG opened at $4.70 on Tuesday. The company has a 50 day moving average of $5.01 and a two-hundred day moving average of $4.99. The company has a quick ratio of 10.90, a current ratio of 11.17 and a debt-to-equity ratio of 0.14. Acacia Research Co. has a twelve month low of $3.43 and a twelve month high of $5.74. The company has a market cap of $471.79 million, a price-to-earnings ratio of 13.06 and a beta of 0.52.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings data on Thursday, August 8th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter. Acacia Research had a net margin of 44.42% and a return on equity of 12.00%. The company had revenue of $25.84 million for the quarter.

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.