Victory Capital Management Inc. Sells 4,996 Shares of Acacia Research Co. (NASDAQ:ACTG)

Victory Capital Management Inc. reduced its stake in shares of Acacia Research Co. (NASDAQ:ACTG) by 28.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,517 shares of the business services provider’s stock after selling 4,996 shares during the period. Victory Capital Management Inc.’s holdings in Acacia Research were worth $58,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Acacia Research in the second quarter valued at about $83,000. XTX Topco Ltd acquired a new position in shares of Acacia Research in the second quarter worth approximately $174,000. Renaissance Technologies LLC boosted its holdings in Acacia Research by 0.4% in the second quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock valued at $7,566,000 after acquiring an additional 6,143 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Acacia Research by 15.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock valued at $8,878,000 after purchasing an additional 233,759 shares during the period. Finally, American Century Companies Inc. raised its holdings in Acacia Research by 392.1% during the 2nd quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock worth $712,000 after purchasing an additional 113,207 shares during the last quarter. 86.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Acacia Research Stock Performance

Shares of Acacia Research stock opened at $4.55 on Monday. The company has a market cap of $443.03 million, a P/E ratio of 8.59 and a beta of 0.53. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $4.59 and a two-hundred day moving average price of $4.91. Acacia Research Co. has a 1-year low of $3.58 and a 1-year high of $5.74.

Insider Buying and Selling

In other Acacia Research news, Director Isaac T. Kohlberg sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.57, for a total value of $68,550.00. Following the transaction, the director now directly owns 69,274 shares of the company’s stock, valued at approximately $316,582.18. The trade was a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.65% of the stock is currently owned by insiders.

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.