Acacia Research Co. (NASDAQ:ACTG) Short Interest Update

Acacia Research Co. (NASDAQ:ACTG) was the target of a significant increase in short interest in 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.

Acacia Research Price Performance

ACTG stock opened at $4.74 on Tuesday. The company has a market capitalization of $474.10 million, a PE ratio of 13.17 and a beta of 0.52. The company has a quick ratio of 10.90, a current ratio of 11.17 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $4.68 and its two-hundred day moving average is $4.99. Acacia Research has a 52-week low of $3.50 and a 52-week 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 (EPS) 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 during the quarter.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Acacia Research

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