Acacia Research Corp (NASDAQ:ACTG) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 187,000 shares, an increase of 8.3% from the June 30th total of 172,700 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 116,700 shares, the days-to-cover ratio is presently 1.6 days.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position 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 acquiring an additional 7,446 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Acacia Research by 209.8% during the 2nd quarter. Citadel Advisors LLC now owns 18,771 shares of the business services provider’s stock worth $56,000 after acquiring an additional 35,871 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Acacia Research during the 1st quarter worth about $65,000. Marshall Wace LLP acquired a new position in shares of Acacia Research during the 1st quarter worth about $168,000. Finally, Parametric Portfolio Associates LLC boosted 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 worth $286,000 after acquiring an additional 45,259 shares in the last quarter. 59.63% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ACTG opened at $2.89 on Friday. The stock has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $3.06. Acacia Research has a 1 year low of $2.70 and a 1 year high of $4.05.
Acacia Research (NASDAQ:ACTG) last released its quarterly earnings data on Monday, August 5th. The business services provider reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $5.46 million for the quarter. Acacia Research had a negative return on equity of 7.67% and a negative net margin of 76.22%.
About Acacia Research
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.
Further Reading: After-Hours Trading
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