Acacia Research (NASDAQ:ACTG) Lowered to "Hold" Rating by Wall Street Zen

Acacia Research (NASDAQ:ACTG - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Acacia Research Price Performance

Shares of Acacia Research stock traded up $0.01 during trading on Friday, reaching $3.83. 144,360 shares of the company's stock were exchanged, compared to its average volume of 267,527. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.95 and a current ratio of 16.39. Acacia Research has a 1-year low of $2.70 and a 1-year high of $5.70. The company has a market cap of $368.34 million, a P/E ratio of 7.23 and a beta of 0.64. The firm's 50-day moving average price is $3.37 and its 200 day moving average price is $3.90.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported $0.33 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.38. Acacia Research had a return on equity of 10.35% and a net margin of 31.44%.

Institutional Trading of Acacia Research

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in shares of Acacia Research by 113.0% during the 4th quarter. Empowered Funds LLC now owns 163,076 shares of the business services provider's stock valued at $708,000 after acquiring an additional 86,531 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Acacia Research by 142.5% during the fourth quarter. Bank of New York Mellon Corp now owns 247,099 shares of the business services provider's stock valued at $1,072,000 after purchasing an additional 145,216 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Acacia Research during the fourth quarter valued at about $46,000. Levin Capital Strategies L.P. grew its holdings in shares of Acacia Research by 76.2% during the fourth quarter. Levin Capital Strategies L.P. now owns 183,996 shares of the business services provider's stock worth $799,000 after purchasing an additional 79,545 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Acacia Research by 28.1% in the fourth quarter. SG Americas Securities LLC now owns 19,735 shares of the business services provider's stock valued at $86,000 after buying an additional 4,327 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.