Acacia Research (NASDAQ:ACTG) Shares Gap Down to $5.16

Acacia Research Co. (NASDAQ:ACTG - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $5.16, but opened at $5.00. Acacia Research shares last traded at $5.02, with a volume of 13,721 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Craig Hallum raised their price objective on Acacia Research from $6.00 to $7.00 and gave the company a "buy" rating in a report on Friday, March 15th. StockNews.com raised Acacia Research from a "sell" rating to a "hold" rating in a research report on Monday, March 18th.

Acacia Research Stock Performance

The company has a market capitalization of $494.46 million, a price-to-earnings ratio of 17.07 and a beta of 0.46. The stock has a 50-day moving average price of $4.55 and a 200-day moving average price of $4.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.07 and a quick ratio of 19.67.

Acacia Research (NASDAQ:ACTG - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The business services provider reported $0.67 earnings per share for the quarter. The business had revenue of $92.31 million during the quarter. Acacia Research had a return on equity of 11.47% and a net margin of 48.92%.

Hedge Funds Weigh In On Acacia Research

Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in Acacia Research by 218.4% during the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider's stock worth $29,000 after acquiring an additional 5,040 shares during the period. Victory Capital Management Inc. bought a new position in shares of Acacia Research in the 3rd quarter valued at $39,000. Jump Financial LLC bought a new position in shares of Acacia Research in the 3rd quarter valued at $41,000. State Board of Administration of Florida Retirement System bought a new position in shares of Acacia Research in the 2nd quarter valued at $45,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Acacia Research in the 1st quarter valued at $49,000. Institutional investors own 86.69% of the company's stock.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.