Acacia Research (NASDAQ:ACTG) Stock Rating Upgraded by StockNews.com

Acacia Research (NASDAQ:ACTG) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Acacia Research Price Performance

Shares of NASDAQ:ACTG opened at $4.26 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.39 and a quick ratio of 15.95. Acacia Research has a 1-year low of $3.66 and a 1-year high of $5.74. The company has a market capitalization of $414.79 million, a P/E ratio of 8.04 and a beta of 0.52. The firm’s 50 day simple moving average is $4.46 and its two-hundred day simple moving average is $4.73.

Insider Buying and Selling

In related news, Director Isaac T. Kohlberg sold 15,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.57, for a total transaction of $68,550.00. Following the completion of the transaction, the director now owns 69,274 shares in the company, valued at approximately $316,582.18. This represents a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Acacia Research

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Acacia Research by 9.2% during the third quarter. State Street Corp now owns 3,151,647 shares of the business services provider’s stock worth $14,687,000 after acquiring an additional 265,993 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Acacia Research by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock valued at $8,878,000 after purchasing an additional 233,759 shares during the last quarter. Renaissance Technologies LLC lifted its position in Acacia Research by 0.4% during the second quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock valued at $7,566,000 after purchasing an additional 6,143 shares during the last quarter. Tidal Investments LLC lifted its position in Acacia Research by 8.7% during the third quarter. Tidal Investments LLC now owns 393,584 shares of the business services provider’s stock valued at $1,834,000 after purchasing an additional 31,352 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Acacia Research by 392.1% during the second quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 113,207 shares during the last quarter. Institutional investors own 86.69% of the company’s stock.

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.