Latest revenue
$54.2M
as of 2026-03-31
Latest net income
$-15.7M
as of 2026-03-31
Net margin
-29.0%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $450.1M
- Enterprise value
- $450.1M
- P/E (trailing)
- 20.8×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $5.27
- 52-wk low
- $3.12
- Beta
- —
- Shares out
- 96.6M
5-year trend
What this company does
Acacia Research acquires and operates businesses across industrial, energy, and technology sectors, targeting undervalued public and private companies with enterprise values typically under $1 billion. The company generates returns through free cash flow from owned operating businesses and book value appreciation, rather than through leveraged buyouts or exit-driven private equity strategies. Starboard Value controls Acacia and recently completed a 2023 recapitalization that simplified the capital structure, eliminating preferred stock, warrants, and $60 million of senior secured notes.
Generated from ACTG's filing dated 2026-03-12
Key risks
- Controlling shareholder concentration: Starboard Value owns a majority stake post-recapitalization and provides services via related-party agreement, creating governance/conflict risks.
- Acquisition-dependent strategy: returns hinge on sourcing and executing deals under $1B EV; failure to deploy capital productively impairs book value growth.
- Cross-sector exposure: portfolio spans industrial, energy, and tech operating businesses, concentrating execution risk in disparate operations management without specialist focus.
Generated from ACTG's filing dated 2026-03-12
Profitability
Operating margin
2.2%
108.3%Net margin
7.6%
125.8%Return on equity
4.0%
157.0%Return on assets
2.8%
159.0%Leverage
Debt / equity
0.42×
10.8%Debt / assets
29.5%
7.6%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $54.2M | -56.4% | $-15.7M | -164.8% | -29.0% |
Q4 2025 2025-12-31 | $50.1M | +2.6% | $3.4M | +125.5% | 6.8% |
Q3 2025 2025-09-30 | $59.4M | +155.0% | $-2.7M | +80.5% | -4.6% |
Q2 2025 2025-06-30 | $51.2M | +98.3% | $-3.3M | +61.0% | -6.4% |
Q1 2025 2025-03-31 | $124.4M | +411.6% | $24.3M | +13157.5% | 19.5% |
Q4 2024 2024-12-31 | $48.8M | — | $-13.4M | — | -27.5% |
Q3 2024 2024-09-30 | $23.3M | +131.2% | $-14.0M | -955.5% | -60.0% |
Q2 2024 2024-06-30 | $25.8M | +226.9% | $-8.4M | +9.5% | -32.7% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Patent Owners & Lessors · SIC 6794
Your notes
Keep private notes on ACTG — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$25.1K
Insider selling
$61.4K
Net activity
−$36.3K
Distinct insiders
2
Open-market trades over the last 365 days.
Recent transactions
| Date | Insider | Type | Shares | Price | Value | |
|---|---|---|---|---|---|---|
| 2025-08-11 | Michael Sikoryak Zambito Chief Financial Officer | Purchase | 7,700 | $3.27 | $25.1K | |
| 2025-06-11 | Isaac T. Kohlberg Director | Sale | 16,000 | $3.84 | $61.4K |
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns ACTG
Institutional value
$64.3M
Total shares held
13.5M
Distinct holders
66
-27 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | DIMENSIONAL FUND ADVISORS LP | 2.9M | $13.7M | +95.1K (+3.4%) | Added |
| 2 | BlackRock, Inc. | 2.4M | $11.6M | +42.5K (+1.8%) | Added |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 1.6M | $7.7M | — | New |
| 4 | Krilogy Financial LLC | 1.1M | $5.6M | -115.9K (-9.3%) | Trimmed |
| 5 | Peapod Lane Capital LLC | 1.1M | $5.3M | +245.4K (+29.0%) | Added |
| 6 | Pacific Ridge Capital Partners, LLC | 817.2K | $3.9M | +6.9K (+0.9%) | Added |
| 7 | Formidable Asset Management, LLC | 838.9K | $3.7M | -32.0K (-3.7%) | Trimmed |
| 8 | AEGIS FINANCIAL CORP | 491.1K | $2.4M | — | New |
| 9 | VANGUARD PORTFOLIO MANAGEMENT LLC | 261.9K | $1.3M | — | New |
| 10 | VANGUARD FIDUCIARY TRUST CO | 221.4K | $1.1M | — | New |
| 11 | FRANKLIN RESOURCES INC | 185.3K | $891.2K | — | New |
| 12 | JANE STREET GROUP, LLC | 175.4K | $843.7K | +122.8K (+233.3%) | Added |
| 13 | Marquette Asset Management, LLC | 149.4K | $718.7K | +56.2K (+60.2%) | Added |
| 14 | JPMORGAN CHASE & CO | 115.9K | $560.7K | -24.2K (-17.3%) | Trimmed |
| 15 | UBS Group AG | 116.1K | $558.3K | -8.0K (-6.4%) | Trimmed |
| 16 | Bank of New York Mellon Corp | 112.4K | $540.8K | -8.9K (-7.3%) | Trimmed |
| 17 | Invesco Ltd. | 76.6K | $368.4K | -560 (-0.7%) | Trimmed |
| 18 | GatePass Capital, LLC | 75.5K | $363.2K | -24.3K (-24.3%) | Trimmed |
| 19 | RITHOLTZ WEALTH MANAGEMENT | 65.0K | $312.5K | — | New |
| 20 | O'SHAUGHNESSY ASSET MANAGEMENT, LLC | 58.1K | $279.3K | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With Starboard as controlling shareholder post-recapitalization, how do you ensure minority shareholders aren't disadvantaged in future related-party acquisition sourcing?
- 2
Given management compensation tied to book value per share, what specific BVPS growth has been delivered since the 2022 recapitalization?
- 3
You target sub-$1B enterprise value deals with 'durable earnings'—what's the current unlevered earnings yield across your acquired platforms today?
Refreshed when ACTG files a new report · last from 2026-03-12