Acacia Research (NASDAQ:ACTG) Issues Earnings Results, Misses Estimates By $0.98 EPS

Acacia Research (NASDAQ:ACTGGet Rating) issued its earnings results on Thursday. The business services provider reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.98), Fidelity Earnings reports. Acacia Research had a net margin of 169.45% and a return on equity of 8.60%.

NASDAQ ACTG opened at $4.47 on Friday. Acacia Research has a 52 week low of $3.30 and a 52 week high of $7.54. The company has a 50-day moving average price of $4.28 and a 200-day moving average price of $4.63.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in Acacia Research by 28.4% during the 2nd quarter. Morgan Stanley now owns 141,292 shares of the business services provider’s stock valued at $956,000 after buying an additional 31,251 shares in the last quarter. Millennium Management LLC grew its holdings in Acacia Research by 106.4% during the 2nd quarter. Millennium Management LLC now owns 94,611 shares of the business services provider’s stock valued at $640,000 after buying an additional 48,778 shares in the last quarter. Royal Bank of Canada grew its holdings in Acacia Research by 33.8% during the 3rd quarter. Royal Bank of Canada now owns 7,258 shares of the business services provider’s stock valued at $50,000 after buying an additional 1,833 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Acacia Research by 105.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,171 shares of the business services provider’s stock valued at $76,000 after buying an additional 5,727 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Acacia Research by 5.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 193,254 shares of the business services provider’s stock valued at $1,313,000 after buying an additional 9,975 shares in the last quarter. 63.02% of the stock is owned by institutional investors.

Separately, StockNews.com upgraded Acacia Research from a “sell” rating to a “hold” rating in a research note on Friday, April 8th.

About Acacia Research (Get Rating)

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through two segments, Intellectual Property Operations and Industrial Operations.

See Also

Earnings History for Acacia Research (NASDAQ:ACTG)

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