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

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

Acacia Research Price Performance

ACTG stock opened at $4.32 on Tuesday. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. Acacia Research has a 12 month low of $3.66 and a 12 month high of $5.74. The stock has a market cap of $420.63 million, a PE ratio of 8.15 and a beta of 0.52. The company has a 50-day moving average price of $4.47 and a 200 day moving average price of $4.73.

Insider Activity

In other news, Director Isaac T. Kohlberg sold 15,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.57, for a total transaction of $68,550.00. Following the completion of the sale, the director now directly owns 69,274 shares of the company’s stock, valued at approximately $316,582.18. The trade was a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On Acacia Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Acacia Research by 18.2% during the second quarter. Bank of New York Mellon Corp now owns 124,099 shares of the business services provider’s stock worth $622,000 after acquiring an additional 19,134 shares during the period. Victory Capital Management Inc. grew its stake in Acacia Research by 36.0% in the second quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock worth $88,000 after purchasing an additional 4,638 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Acacia Research during the 2nd quarter worth $354,000. American Century Companies Inc. raised its position in Acacia Research by 392.1% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $8,878,000 after buying an additional 233,759 shares during the period. 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.