Acacia Research (NASDAQ:ACTG) issued its earnings results on Monday. The business services provider reported ($0.05) earnings per share (EPS) for the quarter, Morningstar.com reports. Acacia Research had a negative net margin of 106.28% and a negative return on equity of 5.79%. The company had revenue of $5.46 million during the quarter.
Acacia Research stock traded down $0.02 during mid-day trading on Tuesday, reaching $2.93. The company had a trading volume of 4,787 shares, compared to its average volume of 61,587. Acacia Research has a 1 year low of $2.70 and a 1 year high of $4.05. The business’s 50-day simple moving average is $2.87.
A number of institutional investors have recently modified their holdings of ACTG. BNP Paribas Arbitrage SA increased its stake in shares of Acacia Research by 279.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,107 shares of the business services provider’s stock worth $33,000 after purchasing an additional 7,446 shares in the last quarter. Callodine Capital Management LP boosted its position in Acacia Research by 9.5% during the first quarter. Callodine Capital Management LP now owns 115,000 shares of the business services provider’s stock worth $375,000 after acquiring an additional 10,000 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Acacia Research by 14.9% during the first quarter. Pacific Ridge Capital Partners LLC now owns 1,069,386 shares of the business services provider’s stock worth $3,486,000 after acquiring an additional 138,613 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Acacia Research during the fourth quarter worth approximately $312,000. Finally, Geode Capital Management LLC boosted its position in Acacia Research by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 556,383 shares of the business services provider’s stock worth $1,658,000 after acquiring an additional 20,008 shares during the last quarter. 59.97% of the stock is owned by institutional investors.
Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engage in the licensing and enforcement of patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.
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