Acacia Research Co. (NASDAQ:ACTG) Sees Significant Increase in Short Interest

Acacia Research Co. (NASDAQ:ACTG) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 910,600 shares, a growth of 15.8% from the August 31st total of 786,200 shares. Based on an average daily volume of 318,000 shares, the short-interest ratio is currently 2.9 days.

Acacia Research Stock Down 0.6 %

Shares of NASDAQ ACTG opened at $4.73 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.17 and a quick ratio of 10.90. The company has a market cap of $473.10 million, a P/E ratio of 13.14 and a beta of 0.52. Acacia Research has a 1 year low of $3.43 and a 1 year high of $5.74. The firm has a 50-day simple moving average of $4.84 and a two-hundred day simple moving average of $5.05.

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

Institutional Trading of Acacia Research

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company purchased a new stake in Acacia Research during the 2nd quarter valued at about $83,000. XTX Topco Ltd acquired a new position in Acacia Research in the 2nd quarter valued at about $174,000. Renaissance Technologies LLC boosted its holdings in 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 purchasing an additional 6,143 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Acacia Research by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock valued at $8,878,000 after purchasing an additional 233,759 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Acacia Research by 392.1% in the 2nd quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 113,207 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Acacia Research from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

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.