Acacia Research (NASDAQ:ACTG) Shares Pass Above 200 Day Moving Average - Time to Sell?

Acacia Research Corporation (NASDAQ:ACTG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.79 and traded as high as $3.82. Acacia Research shares last traded at $3.79, with a volume of 201,307 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Acacia Research from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st.

Acacia Research Stock Up 0.8%

The company has a debt-to-equity ratio of 0.18, a current ratio of 6.16 and a quick ratio of 5.81. The firm's 50-day moving average price is $3.68 and its 200 day moving average price is $3.79. The firm has a market cap of $369.29 million, a P/E ratio of -34.91 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, topping 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 at Acacia Research

In other news, Director Isaac T. Kohlberg sold 16,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total transaction of $61,440.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Acacia Research

A number of large investors have recently bought and sold shares of ACTG. Krilogy Financial LLC lifted its holdings in Acacia Research by 20.8% in the second quarter. Krilogy Financial LLC now owns 1,398,559 shares of the business services provider's stock worth $5,007,000 after acquiring an additional 240,535 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Acacia Research by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,673 shares of the business services provider's stock worth $9,985,000 after acquiring an additional 220,579 shares during the last quarter. Peapod Lane Capital LLC lifted its holdings in Acacia Research by 82.9% in the first quarter. Peapod Lane Capital LLC now owns 435,279 shares of the business services provider's stock worth $1,393,000 after acquiring an additional 197,268 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Acacia Research by 142.5% in the fourth quarter. Bank of New York Mellon Corp now owns 247,099 shares of the business services provider's stock worth $1,072,000 after acquiring an additional 145,216 shares during the last quarter. Finally, Clayton Partners LLC bought a new position in Acacia Research in the first quarter worth about $453,000. Institutional investors 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.