Acacia Research Corp (NASDAQ:ACTG)’s stock price shot up 12.4% during mid-day trading on Wednesday . The company traded as high as $2.95 and last traded at $2.91, 267,700 shares changed hands during trading. An increase of 123% from the average session volume of 119,800 shares. The stock had previously closed at $2.59.

The stock has a fifty day moving average of $2.79 and a 200-day moving average of $3.00.

Acacia Research (NASDAQ:ACTG) last released its earnings results on Monday, August 5th. The business services provider reported ($0.05) EPS for the quarter. Acacia Research had a negative net margin of 76.22% and a negative return on equity of 7.79%. The firm had revenue of $5.46 million during the quarter.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Trading LLC increased its holdings in Acacia Research by 186.1% during the second quarter. Wolverine Trading LLC now owns 11,013 shares of the business services provider’s stock worth $33,000 after buying an additional 23,811 shares during the last quarter. Citadel Advisors LLC boosted its stake in Acacia Research by 209.8% in the second quarter. Citadel Advisors LLC now owns 18,771 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 35,871 shares during the last quarter. Invesco Ltd. boosted its stake in Acacia Research by 1,806.5% in the second quarter. Invesco Ltd. now owns 2,500,093 shares of the business services provider’s stock valued at $7,400,000 after acquiring an additional 2,368,958 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Acacia Research by 44.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,598,997 shares of the business services provider’s stock valued at $10,654,000 after acquiring an additional 1,104,392 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in shares of Acacia Research by 88.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 96,493 shares of the business services provider’s stock valued at $286,000 after acquiring an additional 45,259 shares during the period. Institutional investors own 65.46% of the company’s stock.

Acacia Research Company Profile (NASDAQ:ACTG)

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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