Activist Starboard Value Takes Position in Acacia Research (ACTG)

Fintel reports that activist investor Starboard Value LP has filed a 13D form with the SEC disclosing ownership of 5,000,000 shares of Acacia Research Corp (ACTG). This represents 11.5% of the company.

What are other large shareholders doing?

Invesco Ltd. holds 2,635,234 shares representing 6.84% ownership of the company. In it’s prior filing, the firm reported owning 2,637,106 shares, representing a decrease of 0.07%. The firm increased its portfolio allocation in ACTG by 32.65% over the last quarter.

AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) – Invesco Oppenheimer Global Opportunities Fund Class R5 holds 2,500,000 shares representing 6.49% ownership of the company. No change in the last quarter.

Vanguard Group Inc holds 2,002,561 shares representing 5.20% ownership of the company. In it’s prior filing, the firm reported owning 2,536,626 shares, representing a decrease of 26.67%. The firm increased its portfolio allocation in ACTG by 4.85% over the last quarter.

Renaissance Technologies Llc holds 1,995,698 shares representing 5.18% ownership of the company. In it’s prior filing, the firm reported owning 1,980,900 shares, representing an increase of 0.74%. The firm increased its portfolio allocation in ACTG by 13.57% over the last quarter.

Formidable Asset Management, LLC holds 1,989,604 shares representing 5.16% ownership of the company. In it’s prior filing, the firm reported owning 1,948,076 shares, representing an increase of 2.09%. The firm increased its portfolio allocation in ACTG by 33.30% over the last quarter.

What is the overall institutional sentiment?

There are 220 funds or institutions reporting positions in Acacia Research Corp. This is a decrease of 7 owner(s) or 3.08%.

Average portfolio weight of all funds dedicated to Acacia Research Corp is 0.0974%, an increase of 24.4975%. Total shares owned by institutions decreased in the last three months by 17.82% to 27,541,636 shares.

This article originally appeared on Fintel

Contact [email protected] for any questions or corrections.