Acacia Research (NASDAQ:ACTG) Raised to “Hold” at StockNews.com

Acacia Research (NASDAQ:ACTG) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Acacia Research Trading Down 1.4 %

Shares of ACTG opened at $4.26 on Tuesday. Acacia Research has a twelve month low of $3.66 and a twelve month high of $5.74. The company has a market cap of $414.79 million, a P/E ratio of 8.04 and a beta of 0.52. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $4.46 and its 200-day simple moving average is $4.73.

Insider Activity

In related news, Director Isaac T. Kohlberg sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $4.57, for a total value of $68,550.00. Following the transaction, the director now owns 69,274 shares of the company’s stock, valued at $316,582.18. This trade represents a 17.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its holdings in Acacia Research by 7.4% during the 3rd quarter. XTX Topco Ltd now owns 37,277 shares of the business services provider’s stock worth $174,000 after acquiring an additional 2,565 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Acacia Research by 36.0% in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Acacia Research by 0.4% in 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 in the last quarter. Atom Investors LP bought a new stake in shares of Acacia Research in the 3rd quarter valued at about $56,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Acacia Research in the 2nd quarter valued at about $83,000. Hedge funds and other 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.