Acacia Research Co. (NASDAQ:ACTG) Short Interest Up 17.5% in September

Acacia Research Co. (NASDAQ:ACTG) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,070,000 shares, a growth of 17.5% from the September 15th total of 910,600 shares. Based on an average daily volume of 338,200 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Acacia Research from a “hold” rating to a “sell” rating in a research note on Friday.

Acacia Research Stock Performance

Shares of ACTG opened at $4.59 on Tuesday. 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 market cap of $459.10 million, a PE ratio of 12.75 and a beta of 0.52. The company’s 50 day simple moving average is $4.67 and its 200-day simple moving average is $5.03. Acacia Research has a 12-month low of $3.43 and a 12-month high of $5.74.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACTG. Acuitas Investments LLC grew its holdings in Acacia Research by 0.5% in the 2nd quarter. Acuitas Investments LLC now owns 497,916 shares of the business services provider’s stock valued at $2,495,000 after buying an additional 2,699 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Acacia Research by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock valued at $338,000 after buying an additional 3,018 shares during the last quarter. Victory Capital Management Inc. boosted 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 valued at $88,000 after buying an additional 4,638 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Acacia Research by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock valued at $7,566,000 after buying an additional 6,143 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Acacia Research during the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Acacia Research Company Profile

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.