Acacia Research (NASDAQ:ACTG) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Acacia Research (NASDAQ:ACTG - Free Report) from a sell rating to a hold rating in a report published on Monday.

Acacia Research Price Performance

Shares of Acacia Research stock traded up $0.01 on Monday, hitting $3.72. The company had a trading volume of 216,075 shares, compared to its average volume of 272,642. Acacia Research has a 52 week low of $2.70 and a 52 week high of $5.74. The company has a market cap of $357.44 million, a PE ratio of 7.02 and a beta of 0.57. The business has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $4.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.39 and a quick ratio of 15.95.

Acacia Research (NASDAQ:ACTG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.38. Acacia Research had a return on equity of 10.35% and a net margin of 31.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACTG. Empowered Funds LLC lifted its holdings in Acacia Research by 113.0% in the 4th quarter. Empowered Funds LLC now owns 163,076 shares of the business services provider's stock valued at $708,000 after acquiring an additional 86,531 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Acacia Research by 142.5% in the 4th quarter. Bank of New York Mellon Corp now owns 247,099 shares of the business services provider's stock worth $1,072,000 after purchasing an additional 145,216 shares in the last quarter. Krilogy Financial LLC lifted its stake in Acacia Research by 7.2% during the fourth quarter. Krilogy Financial LLC now owns 1,038,000 shares of the business services provider's stock valued at $4,505,000 after purchasing an additional 69,400 shares during the last quarter. Barclays PLC boosted its holdings in Acacia Research by 253.0% during the third quarter. Barclays PLC now owns 49,788 shares of the business services provider's stock worth $232,000 after buying an additional 35,685 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its holdings in Acacia Research by 76.2% during the fourth quarter. Levin Capital Strategies L.P. now owns 183,996 shares of the business services provider's stock worth $799,000 after buying an additional 79,545 shares in the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

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.