Acacia Research (NASDAQ:ACTG) Share Price Crosses Above 200 Day Moving Average - Here's Why

Acacia Research Corporation (NASDAQ:ACTG - Get Free Report) passed 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 trading hands.

Wall Street Analysts Forecast Growth

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 Performance

The stock's 50 day moving average price is $3.68 and its 200 day moving average price is $3.79. 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 company has a market capitalization of $381.80 million, a P/E ratio of -36.09 and a beta of 0.59.

Acacia Research (NASDAQ:ACTG - Get Free Report) last posted its quarterly earnings data 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 Transactions at Acacia Research

In related news, Director Isaac T. Kohlberg sold 16,000 shares of the 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 transaction, the director directly owned 85,446 shares of the company's stock, valued at $328,112.64. This represents a 15.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $9,985,000 after buying an additional 220,579 shares in the last quarter. Krilogy Financial LLC increased its holdings in Acacia Research by 20.8% during the second quarter. Krilogy Financial LLC now owns 1,398,559 shares of the business services provider's stock worth $5,007,000 after buying an additional 240,535 shares during the last quarter. Royce & Associates LP boosted its position in Acacia Research by 5.1% during the fourth quarter. Royce & Associates LP now owns 1,174,641 shares of the business services provider's stock worth $5,098,000 after purchasing an additional 56,726 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in Acacia Research by 7.8% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,004,495 shares of the business services provider's stock worth $4,360,000 after purchasing an additional 72,494 shares during the period. Finally, Formidable Asset Management LLC boosted its position in Acacia Research by 1.0% during the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider's stock worth $4,353,000 after purchasing an additional 10,257 shares during the period. 86.69% of the stock is owned by institutional investors.

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.