Acacia Research (NASDAQ:ACTG) Shares Cross Above Two Hundred Day Moving Average - What's Next?

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 upgraded shares of Acacia Research from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Acacia Research Stock Up 1.4%

The firm's 50-day moving average is $3.74 and its 200 day moving average is $3.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.81 and a current ratio of 6.16. The firm has a market capitalization of $354.87 million, a P/E ratio of -33.55 and a beta of 0.59.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates 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 company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total value of $61,440.00. Following the completion of the sale, the director directly owned 85,446 shares in the company, valued at $328,112.64. This represents a 15.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.65% of the stock is currently owned by insiders.

Institutional Trading of Acacia Research

A number of institutional investors have recently added to or reduced their stakes in ACTG. Krilogy Financial LLC increased its position in shares of Acacia Research by 20.8% during the 2nd quarter. Krilogy Financial LLC now owns 1,398,559 shares of the business services provider's stock valued at $5,007,000 after purchasing an additional 240,535 shares during the period. Jane Street Group LLC acquired a new stake in shares of Acacia Research during the 1st quarter valued at $169,000. Empowered Funds LLC boosted its stake in shares of Acacia Research by 8.9% during the 1st quarter. Empowered Funds LLC now owns 177,666 shares of the business services provider's stock worth $569,000 after acquiring an additional 14,590 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Acacia Research in the 1st quarter worth $35,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Acacia Research during the first quarter valued at $41,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

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.