Acacia Research (NASDAQ:ACTG) Shares Pass Above Two Hundred Day Moving Average of $4.02

Acacia Research Co. (NASDAQ:ACTG)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.02 and traded as high as $5.15. Acacia Research shares last traded at $5.02, with a volume of 126,738 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, March 18th. Craig Hallum boosted their price objective on shares of Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Acacia Research Stock Down 2.7 %

The firm has a market capitalization of $501.45 million, a PE ratio of 17.31 and a beta of 0.46. The company has a debt-to-equity ratio of 0.02, a quick ratio of 19.67 and a current ratio of 20.07. The firm’s 50-day moving average is $4.53 and its 200 day moving average is $4.02.

Acacia Research (NASDAQ:ACTG) last released its earnings results on Thursday, March 14th. The business services provider reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of $92.31 million for the quarter. Acacia Research had a net margin of 48.92% and a return on equity of 11.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG increased its stake in shares of Acacia Research by 218.4% during the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 5,040 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of Acacia Research during the 3rd quarter valued at about $39,000. Jump Financial LLC acquired a new position in shares of Acacia Research during the 3rd quarter valued at about $41,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Acacia Research during the 2nd quarter valued at about $45,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Acacia Research during the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

About Acacia Research

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.