Acacia Research Co. (NASDAQ:ACTG) Sees Significant Decrease in Short Interest

Acacia Research Co. (NASDAQ:ACTG) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 625,900 shares, a decrease of 10.3% from the March 15th total of 698,000 shares. Based on an average daily trading volume, of 226,300 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Acacia Research

Several large investors have recently modified their holdings of ACTG. UBS Group AG boosted its holdings in Acacia Research by 218.4% during the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 5,040 shares during the period. Victory Capital Management Inc. acquired a new position in Acacia Research during the third quarter worth approximately $39,000. State Board of Administration of Florida Retirement System acquired a new position in Acacia Research during the second quarter worth approximately $45,000. Jump Financial LLC acquired a new position in Acacia Research during the third quarter worth approximately $41,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Acacia Research during the first quarter worth approximately $49,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ACTG shares. StockNews.com upgraded Acacia Research from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Craig Hallum upped their target price on Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Acacia Research Stock Performance

Shares of Acacia Research stock opened at $4.95 on Tuesday. Acacia Research has a 52 week low of $3.43 and a 52 week high of $5.47. The business’s fifty day simple moving average is $4.55 and its 200-day simple moving average is $4.04. The firm has a market cap of $494.46 million, a PE ratio of 17.07 and a beta of 0.46. The company has a quick ratio of 19.67, a current ratio of 20.07 and a debt-to-equity ratio of 0.02.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings results on Thursday, March 14th. The business services provider reported $0.67 EPS for the quarter. Acacia Research had a return on equity of 11.47% and a net margin of 48.92%. The business had revenue of $92.31 million for the quarter.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.