Acacia Research Corp (NASDAQ:ACTG) Short Interest Down 5.9% in June

Acacia Research Corp (NASDAQ:ACTG) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 201,400 shares, a decrease of 5.9% from the May 15th total of 214,100 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 133,100 shares, the days-to-cover ratio is presently 1.5 days.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its position in 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 valued at $33,000 after purchasing an additional 7,446 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Acacia Research in the 1st quarter valued at approximately $65,000. Marshall Wace LLP acquired a new stake in shares of Acacia Research in the 1st quarter valued at approximately $168,000. Rhumbline Advisers raised its position in shares of Acacia Research by 37.4% in the 4th quarter. Rhumbline Advisers now owns 70,958 shares of the business services provider’s stock valued at $211,000 after acquiring an additional 19,312 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Acacia Research in the 4th quarter valued at approximately $312,000. Institutional investors own 60.09% of the company’s stock.

NASDAQ:ACTG traded up $0.03 during mid-day trading on Friday, reaching $2.82. 52,604 shares of the company were exchanged, compared to its average volume of 115,845. Acacia Research has a 12 month low of $2.70 and a 12 month high of $4.05. The firm’s fifty day moving average is $2.97.

Acacia Research (NASDAQ:ACTG) last issued its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.10) EPS for the quarter. Acacia Research had a negative return on equity of 5.79% and a negative net margin of 106.28%. The company had revenue of $3.39 million for the quarter.

Separately, ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st.

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.

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