Acacia Research (NASDAQ:ACTG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.
Acacia Research Trading Up 1.1%
NASDAQ:ACTG traded up $0.04 on Friday, reaching $3.65. The company's stock had a trading volume of 137,334 shares, compared to its average volume of 267,018. Acacia Research has a 1-year low of $2.70 and a 1-year high of $5.70. The business's 50-day moving average price is $3.51 and its two-hundred day moving average price is $3.84. The firm has a market cap of $351.02 million, a PE ratio of -33.18 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.81 and a current ratio of 6.16.
Acacia Research (NASDAQ:ACTG - Get Free Report) last announced its earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share for the quarter, topping 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 related news, Director Isaac T. Kohlberg sold 16,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $3.84, for a total value of $61,440.00. Following the completion of the transaction, the director now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.65% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Acacia Research
Several hedge funds have recently modified their holdings of ACTG. AQR Capital Management LLC bought a new position in Acacia Research in the first quarter valued at approximately $35,000. Deutsche Bank AG acquired a new stake in shares of Acacia Research in the 4th quarter valued at approximately $40,000. Alpine Global Management LLC bought a new position in shares of Acacia Research in the first quarter valued at $41,000. ProShare Advisors LLC acquired a new position in Acacia Research during the fourth quarter worth $46,000. Finally, Intech Investment Management LLC bought a new stake in Acacia Research during the fourth quarter worth $56,000. Institutional investors 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.
Read More
Before you consider Acacia Research, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Acacia Research wasn't on the list.
While Acacia Research currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
