Acacia Research (NASDAQ:ACTG) Raised to Buy at Wall Street Zen

Acacia Research (NASDAQ:ACTG) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Acacia Research in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Acacia Research Price Performance

Shares of NASDAQ ACTG opened at $3.67 on Friday. Acacia Research has a twelve month low of $2.70 and a twelve month high of $4.66. The company has a 50 day moving average of $3.41 and a 200 day moving average of $3.52. The company has a quick ratio of 8.29, a current ratio of 8.80 and a debt-to-equity ratio of 0.18. The firm has a market cap of $354.01 million, a P/E ratio of -61.16 and a beta of 0.59.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings results on Wednesday, November 5th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.13. Acacia Research had a positive return on equity of 1.33% and a negative net margin of 2.60%.The firm had revenue of $59.45 million for the quarter, compared to the consensus estimate of $38.00 million.

Institutional Investors Weigh In On Acacia Research

Several large investors have recently modified their holdings of ACTG. 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 purchasing an additional 3,113 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Acacia Research by 22.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,016 shares of the business services provider’s stock worth $68,000 after buying an additional 3,517 shares during the last quarter. Peapod Lane Capital LLC increased its position in Acacia Research by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 726,171 shares of the business services provider’s stock valued at $2,360,000 after acquiring an additional 7,979 shares during the period. Capital Advisors Ltd. LLC purchased a new stake in Acacia Research during the 2nd quarter valued at approximately $29,000. Finally, GatePass Capital LLC lifted its position in Acacia Research by 9.3% during the 3rd quarter. GatePass Capital LLC now owns 105,300 shares of the business services provider’s stock worth $342,000 after acquiring an additional 9,000 shares during the period. 86.69% of the stock is owned by institutional investors and hedge funds.

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.