Acacia Research (NASDAQ:ACTG) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Acacia Research's share price surpassed its 200-day moving average of $3.44, trading as high as $3.62 before settling at $3.49.
• Recent analyst ratings have downgraded Acacia Research, with Wall Street Zen lowering its rating from buy to hold and a consensus rating now classified as sell.
• Institutional investors own approximately 86.69% of Acacia Research's stock, indicating strong institutional interest in the company.

Shares of Acacia Research Corporation (NASDAQ:ACTG - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.44 and traded as high as $3.62. Acacia Research shares last traded at $3.49, with a volume of 267,718 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on ACTG. Wall Street Zen downgraded Acacia Research from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Acacia Research in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Acacia Research Trading Down 3.6%

The company has a market capitalization of $336.58 million, a price-to-earnings ratio of -58.16 and a beta of 0.61. The firm has a 50-day moving average price of $3.33 and a 200-day moving average price of $3.44. 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 (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The business services provider reported $0.34 earnings per share (EPS) for the quarter. The company had revenue of $124.42 million for the quarter. Acacia Research had a positive return on equity of 1.33% and a negative net margin of 2.60%.

Institutional Trading of Acacia Research

Institutional investors have recently bought and sold shares of the company. Ethic Inc. bought a new position in Acacia Research during the third quarter valued at about $64,000. Permanent Capital Management LP bought a new position in Acacia Research during the third quarter valued at about $1,317,000. GatePass Capital LLC raised its holdings in Acacia Research by 46.4% during the second quarter. GatePass Capital LLC now owns 96,300 shares of the business services provider's stock valued at $345,000 after buying an additional 30,500 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Acacia Research by 7.7% during the second quarter. Bridgeway Capital Management LLC now owns 242,182 shares of the business services provider's stock valued at $867,000 after buying an additional 17,216 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in Acacia Research during the second quarter valued at about $75,000. Institutional investors and hedge funds 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.

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