StockNews.com Downgrades Acacia Research (NASDAQ:ACTG) to Sell

StockNews.com lowered shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Acacia Research Stock Performance

Shares of ACTG stock opened at $3.40 on Friday. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $4.15 and a two-hundred day simple moving average of $4.40. Acacia Research has a 12 month low of $3.37 and a 12 month high of $5.74. The firm has a market capitalization of $326.69 million, a PE ratio of 6.42 and a beta of 0.49.

Institutional Investors Weigh In On Acacia Research

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in Acacia Research by 9.2% during the 3rd quarter. State Street Corp now owns 3,151,647 shares of the business services provider’s stock valued at $14,687,000 after purchasing an additional 265,993 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of Acacia Research in the fourth quarter valued at approximately $1,033,000. Dimensional Fund Advisors LP boosted its position 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 valued at $9,985,000 after buying an additional 220,579 shares during the last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $1,072,000 after buying an additional 145,216 shares in the last quarter. Finally, Empowered Funds LLC raised its position 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 buying an additional 86,531 shares during the last quarter. Institutional investors and hedge funds 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.