Weiss Ratings Reiterates "Sell (D)" Rating for Acacia Research (NASDAQ:ACTG)

Key Points

• Weiss Ratings has restated its "Sell (D)" rating for Acacia Research (NASDAQ: ACTG) in a recent report, indicating continued negative sentiment toward the stock.
• The company's consensus rating remains a "Sell," with an additional downgrade from Wall Street Zen to a "Hold" rating.
• Acacia Research's stock recently traded at $3.43, showing a slight increase of 2.1%, while institutional investors own approximately 86.69% of the company's stock.

Acacia Research (NASDAQ:ACTG - Get Free Report)'s stock had its "sell (d)" rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded Acacia Research from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Acacia Research Trading Up 2.1%

NASDAQ ACTG traded up $0.07 on Wednesday, hitting $3.43. 37,595 shares of the company were exchanged, compared to its average volume of 215,848. The company's 50 day moving average price is $3.33 and its 200-day moving average price is $3.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.80 and a quick ratio of 8.29. The firm has a market capitalization of $330.79 million, a P/E ratio of -57.16 and a beta of 0.61. Acacia Research has a twelve month low of $2.70 and a twelve month high of $5.36.

Institutional Investors Weigh In On Acacia Research

Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in Acacia Research by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 114,872 shares of the business services provider's stock worth $411,000 after acquiring an additional 3,113 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Acacia Research by 22.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,016 shares of the business services provider's stock valued at $68,000 after purchasing an additional 3,517 shares during the last quarter. Capital Advisors Ltd. LLC bought a new position in shares of Acacia Research in the second quarter valued at $29,000. AQR Capital Management LLC bought a new position in shares of Acacia Research in the first quarter valued at $35,000. Finally, Alpine Global Management LLC bought a new position in shares of Acacia Research in the first quarter valued at $41,000. Institutional investors and hedge funds own 86.69% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.