Short Interest in Acacia Research Co. (NASDAQ:ACTG) Expands By 22.4%

Acacia Research Co. (NASDAQ:ACTG) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,310,000 shares, an increase of 22.4% from the September 30th total of 1,070,000 shares. Based on an average daily volume of 327,400 shares, the short-interest ratio is presently 4.0 days.

Hedge Funds Weigh In On Acacia Research

Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Acacia Research in the second quarter worth approximately $43,000. The Manufacturers Life Insurance Company acquired a new position in shares of Acacia Research during the 2nd quarter worth $83,000. Victory Capital Management Inc. increased its stake in shares of Acacia Research by 36.0% during the 2nd quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock worth $88,000 after purchasing an additional 4,638 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Acacia Research by 146.4% during the 1st quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 16,735 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Acacia Research in the 2nd quarter valued at $174,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut Acacia Research from a “hold” rating to a “sell” rating in a research note on Friday, October 11th.

Acacia Research Stock Up 0.2 %

NASDAQ:ACTG opened at $4.75 on Monday. The business’s fifty day moving average price is $4.68 and its 200 day moving average price is $4.99. The firm has a market capitalization of $475.10 million, a price-to-earnings ratio of 13.19 and a beta of 0.52. The company has a current ratio of 11.17, a quick ratio of 10.90 and a debt-to-equity ratio of 0.14. Acacia Research has a 1-year low of $3.47 and a 1-year high of $5.74.

Acacia Research (NASDAQ:ACTG) last issued its earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share for the quarter. The business had revenue of $25.84 million during the quarter. Acacia Research had a net margin of 44.42% and a return on equity of 12.00%.

About Acacia Research

Acacia is a publicly traded (Nasdaq: ACTG) company that is focused on acquiring and operating businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon.