Acacia Research (NASDAQ:ACTG) Raised to "Buy" at Wall Street Zen

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

Acacia Research Price Performance

Shares of ACTG traded up $0.15 during mid-day trading on Thursday, reaching $3.89. 79,327 shares of the company's stock were exchanged, compared to its average volume of 269,928. The company has a quick ratio of 15.95, a current ratio of 16.39 and a debt-to-equity ratio of 0.12. Acacia Research has a 52-week low of $2.70 and a 52-week high of $5.74. The company has a market cap of $373.63 million, a price-to-earnings ratio of 7.33 and a beta of 0.57. The company has a 50-day simple moving average of $3.27 and a two-hundred day simple moving average of $3.95.

Acacia Research (NASDAQ:ACTG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share 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 Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACTG. Deutsche Bank AG purchased a new stake in shares of Acacia Research during the fourth quarter worth about $40,000. ProShare Advisors LLC acquired a new stake in Acacia Research during the fourth quarter worth approximately $46,000. AQR Capital Management LLC purchased a new stake in Acacia Research in the 1st quarter worth approximately $35,000. Alpine Global Management LLC purchased a new stake in Acacia Research in the 1st quarter worth approximately $41,000. Finally, Intech Investment Management LLC acquired a new position in Acacia Research in the 4th quarter valued at $56,000. Institutional investors and hedge funds 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.