Acacia Research (NASDAQ:ACTG) Lowered 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 report sent to investors on Thursday morning.

Acacia Research Stock Up 1.4 %

NASDAQ ACTG opened at $4.43 on Thursday. The company has a quick ratio of 10.90, a current ratio of 16.39 and a debt-to-equity ratio of 0.12. Acacia Research has a fifty-two week low of $3.58 and a fifty-two week high of $5.74. The business has a 50 day moving average price of $4.62 and a two-hundred day moving average price of $4.95. The stock has a market cap of $431.34 million, a PE ratio of 8.36 and a beta of 0.53.

Institutional Investors Weigh In On Acacia Research

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACTG. State Street Corp boosted its position in Acacia Research by 9.2% in the 3rd quarter. State Street Corp now owns 3,151,647 shares of the business services provider’s stock valued at $14,687,000 after buying an additional 265,993 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Acacia Research by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock valued at $11,980,000 after purchasing an additional 13,692 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Acacia Research by 15.2% during 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 in the last quarter. Renaissance Technologies LLC increased its holdings in Acacia Research by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock worth $7,566,000 after purchasing an additional 6,143 shares during the last quarter. Finally, Krilogy Financial LLC raised its position in shares of Acacia Research by 73.0% in the 2nd quarter. Krilogy Financial LLC now owns 813,000 shares of the business services provider’s stock valued at $4,073,000 after purchasing an additional 343,000 shares in the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.