Acacia Research (NASDAQ:ACTG) Downgraded to Sell Rating by StockNews.com

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

Acacia Research Trading Down 14.5 %

Shares of NASDAQ ACTG opened at $3.61 on Thursday. The company’s 50 day simple moving average is $4.28 and its 200 day simple moving average is $4.48. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.39 and a quick ratio of 15.95. Acacia Research has a fifty-two week low of $3.56 and a fifty-two week high of $5.74. The firm has a market capitalization of $351.50 million, a P/E ratio of 6.81 and a beta of 0.49.

Institutional Investors Weigh In On Acacia Research

A number of institutional investors have recently made changes to their positions in ACTG. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Acacia Research during the 3rd quarter worth about $117,000. Atom Investors LP bought a new position in Acacia Research during the 3rd quarter worth approximately $56,000. State Street Corp grew its holdings in Acacia Research by 9.2% during the third quarter. State Street Corp now owns 3,151,647 shares of the business services provider’s stock valued at $14,687,000 after purchasing an additional 265,993 shares during the period. Jane Street Group LLC increased its stake in Acacia Research by 141.7% in the third quarter. Jane Street Group LLC now owns 76,818 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 45,031 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Acacia Research by 7.4% in the third quarter. XTX Topco Ltd now owns 37,277 shares of the business services provider’s stock worth $174,000 after purchasing an additional 2,565 shares during the period. 86.69% of the stock is owned by institutional investors and hedge funds.

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.