Acacia Research (NASDAQ:ACTG) Rating Lowered to Sell at StockNews.com

Acacia Research (NASDAQ:ACTG) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Acacia Research Stock Performance

Shares of NASDAQ ACTG traded down $0.04 during midday trading on Tuesday, reaching $4.19. The company had a trading volume of 111,771 shares, compared to its average volume of 136,413. The stock has a market cap of $407.98 million, a P/E ratio of 7.91 and a beta of 0.51. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. Acacia Research has a 1 year low of $3.92 and a 1 year high of $5.74. The business’s 50-day simple moving average is $4.34 and its 200 day simple moving average is $4.52.

Institutional Trading of Acacia Research

Several large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Acacia Research by 9.2% during the third quarter. State Street Corp now owns 3,151,647 shares of the business services provider’s stock worth $14,687,000 after purchasing an additional 265,993 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Acacia Research in the fourth quarter worth $1,033,000. Dimensional Fund Advisors LP raised its holdings in shares of Acacia Research by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,673 shares of the business services provider’s stock worth $9,985,000 after purchasing an additional 220,579 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Acacia Research by 142.5% during the fourth quarter. Bank of New York Mellon Corp now owns 247,099 shares of the business services provider’s stock valued at $1,072,000 after purchasing an additional 145,216 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Acacia Research by 113.0% in the fourth quarter. Empowered Funds LLC now owns 163,076 shares of the business services provider’s stock valued at $708,000 after purchasing an additional 86,531 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About Acacia Research

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.