Acacia Research (NASDAQ:ACTG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.
Acacia Research Stock Performance
Shares of ACTG stock traded down $0.08 during trading hours on Friday, hitting $3.58. The company's stock had a trading volume of 255,165 shares, compared to its average volume of 268,113. The stock has a market cap of $344.29 million, a PE ratio of -32.55 and a beta of 0.64. Acacia Research has a 12-month low of $2.70 and a 12-month high of $5.70. The company has a 50 day moving average of $3.49 and a 200 day moving average of $3.86. The company has a current ratio of 6.16, a quick ratio of 5.81 and a debt-to-equity ratio of 0.18.
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 Buying and Selling
In other news, Director Isaac T. Kohlberg sold 16,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total transaction of $61,440.00. Following the completion of the transaction, the director now directly owns 85,446 shares of the company's stock, valued at $328,112.64. This represents a 15.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Acacia Research
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in shares of Acacia Research during the first quarter worth about $169,000. Empowered Funds LLC boosted its holdings in Acacia Research by 8.9% in the 1st quarter. Empowered Funds LLC now owns 177,666 shares of the business services provider's stock worth $569,000 after buying an additional 14,590 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Acacia Research during the 1st quarter worth approximately $35,000. Alpine Global Management LLC purchased a new stake in Acacia Research during the 1st quarter worth approximately $41,000. Finally, Clayton Partners LLC acquired a new position in shares of Acacia Research during the first quarter valued at approximately $453,000. Hedge funds and other institutional investors own 86.69% of the company's stock.
Acacia Research Company Profile
(
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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