Acacia Research (NASDAQ:ACTG) Upgraded at StockNews.com

StockNews.com upgraded shares of Acacia Research (NASDAQ:ACTG) from a sell rating to a hold rating in a research note released on Wednesday morning.

Acacia Research Stock Performance

ACTG stock opened at $4.69 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.17 and a quick ratio of 10.90. Acacia Research has a 1-year low of $3.55 and a 1-year high of $5.74. The business has a 50-day moving average price of $4.65 and a 200 day moving average price of $4.97. The company has a market capitalization of $470.76 million, a P/E ratio of 7.33 and a beta of 0.53.

Acacia Research (NASDAQ:ACTG) last announced 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 business had revenue of $25.84 million during the quarter.

Institutional Trading of Acacia Research

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Acacia Research during the 2nd quarter worth $43,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Acacia Research during the second quarter valued at about $83,000. Victory Capital Management Inc. lifted its position in shares of Acacia Research by 36.0% during the second 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. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Acacia Research in the 3rd quarter valued at about $117,000. Finally, BNP Paribas Financial Markets grew its position in shares of Acacia Research by 146.4% in the 1st quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after buying an additional 16,735 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.