StockNews.com Upgrades Acacia Research (NASDAQ:ACTG) to “Hold”

Acacia Research (NASDAQ:ACTG) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Acacia Research Stock Performance

NASDAQ:ACTG opened at $4.68 on Wednesday. The company has a current ratio of 11.17, a quick ratio of 10.90 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $4.66 and a two-hundred day moving average price of $4.97. Acacia Research has a twelve month low of $3.55 and a twelve month high of $5.74. The company has a market capitalization of $469.78 million, a P/E ratio of 7.31 and a beta of 0.53.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acuitas Investments LLC increased its stake in Acacia Research by 0.5% during the second quarter. Acuitas Investments LLC now owns 497,916 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 2,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Acacia Research by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock worth $338,000 after purchasing an additional 3,018 shares during the period. Victory Capital Management Inc. lifted its holdings in Acacia Research by 36.0% in the second 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 period. Renaissance Technologies LLC lifted its holdings in Acacia Research by 0.4% in the second quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock worth $7,566,000 after purchasing an additional 6,143 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Acacia Research in the 2nd quarter valued at about $43,000. 86.69% of the stock is owned by institutional investors and hedge funds.

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.