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Acacia Research (NASDAQ:ACTG) Stock Rating Lowered by Wall Street Zen

Acacia Research logo with Business Services background

Key Points

  • Acacia Research's stock rating was downgraded by Wall Street Zen from "buy" to "hold," reflecting a change in analysts' outlook on the company's performance.
  • The company recently reported earnings of $0.33 per share, surpassing expectations significantly, despite a negative net margin of 2.60%.
  • Institutional investors have recently increased their holdings in Acacia Research, with Peapod Lane Capital LLC alone boosting its stake by 65% in the second quarter.
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Acacia Research (NASDAQ:ACTG - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Acacia Research Stock Up 1.2%

Shares of ACTG stock traded up $0.04 during trading hours on Friday, hitting $3.29. 175,015 shares of the company were exchanged, compared to its average volume of 224,848. The business has a 50 day moving average of $3.68 and a two-hundred day moving average of $3.67. The company has a current ratio of 8.80, a quick ratio of 8.29 and a debt-to-equity ratio of 0.18. Acacia Research has a 52 week low of $2.70 and a 52 week high of $5.36. The company has a market capitalization of $316.41 million, a PE ratio of -54.82 and a beta of 0.61.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.38. Acacia Research had a negative net margin of 2.60% and a positive return on equity of 1.33%.

Insiders Place Their Bets

In related news, Director Isaac T. Kohlberg sold 16,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total value of $61,440.00. Following the completion of the transaction, the director owned 85,446 shares of the company's stock, valued at approximately $328,112.64. This trade represents a 15.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Acacia Research by 5.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider's stock valued at $232,000 after acquiring an additional 2,581 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Acacia Research by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider's stock valued at $96,000 after acquiring an additional 4,825 shares during the last quarter. Barclays PLC lifted its stake in Acacia Research by 14.1% in the fourth quarter. Barclays PLC now owns 56,787 shares of the business services provider's stock valued at $247,000 after acquiring an additional 6,999 shares during the last quarter. Capital Advisors Ltd. LLC acquired a new stake in Acacia Research in the second quarter valued at $29,000. Finally, Deutsche Bank AG acquired a new stake in Acacia Research in the fourth quarter valued at $40,000. Institutional investors own 86.69% of the company's stock.

Acacia Research Company Profile

(Get Free Report)

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.

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