Acacia Research (NASDAQ:ACTG) Upgraded by StockNews.com to Hold Rating

Acacia Research (NASDAQ:ACTG) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Acacia Research Price Performance

Acacia Research stock traded down $0.02 during mid-day trading on Tuesday, hitting $4.32. The stock had a trading volume of 163,384 shares, compared to its average volume of 155,771. 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’s 50 day moving average is $4.47 and its 200 day moving average is $4.73. The firm has a market capitalization of $420.63 million, a P/E ratio of 8.15 and a beta of 0.52. Acacia Research has a one year low of $3.66 and a one year high of $5.74.

Insider Buying and Selling

In other news, Director Isaac T. Kohlberg sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.57, for a total value of $68,550.00. Following the completion of the sale, the director now directly owns 69,274 shares of the company’s stock, valued at $316,582.18. This trade represents a 17.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acacia Research

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Acacia Research by 9.2% in the third 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 period. Dimensional Fund Advisors LP lifted its holdings in shares of Acacia Research by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock worth $8,878,000 after buying an additional 233,759 shares during the period. American Century Companies Inc. lifted its holdings in shares of Acacia Research by 392.1% in the 2nd quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock worth $712,000 after buying an additional 113,207 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Acacia Research during the 2nd quarter worth $354,000. Finally, Jane Street Group LLC increased its stake in shares of Acacia Research by 141.7% during the third quarter. Jane Street Group LLC now owns 76,818 shares of the business services provider’s stock valued at $358,000 after buying an additional 45,031 shares during the period. 86.69% of the stock is currently owned by institutional investors.

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.