Acacia Research Corporation (NASDAQ:ACTG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.76 and traded as high as $3.79. Acacia Research shares last traded at $3.70, with a volume of 115,005 shares.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised Acacia Research from a "hold" rating to a "buy" rating in a report on Saturday, June 21st.
Check Out Our Latest Report on Acacia Research
Acacia Research Stock Performance
The company has a current ratio of 6.16, a quick ratio of 5.81 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $355.83 million, a PE ratio of -33.64 and a beta of 0.59. The firm's 50-day simple moving average is $3.74 and its two-hundred day simple moving average is $3.75.
Acacia Research (NASDAQ:ACTG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.38. Acacia Research had a negative net margin of 5.21% and a positive return on equity of 2.09%.
Insider Activity
In other Acacia Research news, Director Isaac T. Kohlberg sold 16,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total transaction of $61,440.00. Following the completion of the transaction, the director owned 85,446 shares of the company's stock, valued at $328,112.64. The trade was a 15.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG acquired a new position in shares of Acacia Research during the fourth quarter valued at about $40,000. ProShare Advisors LLC acquired a new position in shares of Acacia Research during the fourth quarter valued at about $46,000. AQR Capital Management LLC acquired a new position in shares of Acacia Research during the first quarter valued at about $35,000. Alpine Global Management LLC acquired a new position in shares of Acacia Research during the first quarter valued at about $41,000. Finally, Intech Investment Management LLC acquired a new position in Acacia Research in the fourth quarter worth about $56,000. Institutional investors and hedge funds own 86.69% of the company's stock.
About Acacia Research
(
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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