Acacia Research (NASDAQ:ACTG) Downgraded by StockNews.com

StockNews.com cut shares of Acacia Research (NASDAQ:ACTGFree Report) from a hold rating to a sell rating in a research report released on Friday.

Acacia Research Trading Up 1.8 %

Shares of ACTG opened at $4.60 on Friday. The business’s 50-day moving average price is $4.68 and its 200-day moving average price is $5.03. Acacia Research has a twelve month low of $3.43 and a twelve month high of $5.74. The stock has a market cap of $460.10 million, a PE ratio of 12.78 and a beta of 0.52. The company has a quick ratio of 10.90, a current ratio of 11.17 and a debt-to-equity ratio of 0.14.

Acacia Research (NASDAQ:ACTGGet Free Report) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share for the quarter. Acacia Research had a net margin of 44.42% and a return on equity of 12.00%. The company had revenue of $25.84 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in shares of Acacia Research during the second quarter worth about $43,000. The Manufacturers Life Insurance Company purchased a new stake in Acacia Research in the second quarter worth approximately $83,000. Victory Capital Management Inc. boosted its stake in Acacia Research by 36.0% in the second quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock worth $88,000 after buying an additional 4,638 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Acacia Research in the first quarter worth approximately $136,000. Finally, BNP Paribas Financial Markets boosted its stake in Acacia Research by 146.4% in the first quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after buying an additional 16,735 shares in the last quarter. Hedge funds and other 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.

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