Acacia Research (NASDAQ:ACTG) Cut to Hold at Wall Street Zen

Acacia Research (NASDAQ:ACTG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Acacia Research Trading Up 2.1%

Acacia Research stock opened at $3.83 on Friday. The firm has a market cap of $368.34 million, a PE ratio of 7.23 and a beta of 0.64. Acacia Research has a 12 month low of $2.70 and a 12 month high of $5.70. The stock's 50 day simple moving average is $3.35 and its two-hundred day simple moving average is $3.91. 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 (NASDAQ:ACTG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.38. Acacia Research had a net margin of 31.44% and a return on equity of 10.35%.

Hedge Funds Weigh In On Acacia Research

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Acacia Research by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,673 shares of the business services provider's stock worth $9,985,000 after buying an additional 220,579 shares in the last quarter. Royce & Associates LP lifted its holdings in Acacia Research by 5.1% in the 4th quarter. Royce & Associates LP now owns 1,174,641 shares of the business services provider's stock valued at $5,098,000 after purchasing an additional 56,726 shares in the last quarter. Krilogy Financial LLC boosted its stake in Acacia Research by 11.6% during the 1st quarter. Krilogy Financial LLC now owns 1,158,024 shares of the business services provider's stock worth $3,706,000 after purchasing an additional 120,024 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in shares of Acacia Research by 7.8% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,004,495 shares of the business services provider's stock worth $4,360,000 after buying an additional 72,494 shares in the last quarter. Finally, Formidable Asset Management LLC raised its position in shares of Acacia Research by 1.0% in the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider's stock valued at $4,353,000 after buying an additional 10,257 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.