Acacia Research Corp (NASDAQ:ACTG)’s stock price shot up 12.4% during mid-day trading on Wednesday . The stock traded as high as $2.95 and last traded at $2.91, 267,700 shares traded hands during mid-day 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 simple moving average of $2.79 and a 200-day simple moving average of $3.00.

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

A number of institutional investors and hedge funds have recently made changes to their positions in ACTG. BNP Paribas Arbitrage SA raised its position in shares of Acacia Research by 279.8% during the first 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 during the last quarter. Wolverine Trading LLC boosted its holdings in Acacia Research by 186.1% in the second quarter. Wolverine Trading LLC now owns 11,013 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 23,811 shares during the last quarter. Citadel Advisors LLC increased its position 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 worth $56,000 after purchasing an additional 35,871 shares during the period. SG Americas Securities LLC acquired a new stake in Acacia Research in the first quarter worth about $65,000. Finally, Marshall Wace LLP bought a new stake in Acacia Research during the 1st quarter worth about $168,000. Hedge funds and other 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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