Acacia Research (NASDAQ:ACTG – Get Free Report) had its price target hoisted by Craig Hallum from $6.00 to $7.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Craig Hallum’s target price suggests a potential upside of 42.57% from the stock’s current price.
Separately, TheStreet raised shares of Acacia Research from a “d+” rating to a “c-” rating in a research note on Monday, December 4th.
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Acacia Research Price Performance
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Levin Capital Strategies L.P. lifted its stake in shares of Acacia Research by 634.2% in the third quarter. Levin Capital Strategies L.P. now owns 367,119 shares of the business services provider’s stock worth $1,340,000 after buying an additional 317,119 shares in the last quarter. Toroso Investments LLC raised its holdings in shares of Acacia Research by 8.5% during the third quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock valued at $2,023,000 after purchasing an additional 43,361 shares during the last quarter. American International Group Inc. purchased a new position in shares of Acacia Research during the second quarter valued at approximately $76,000. Victory Capital Management Inc. purchased a new position in shares of Acacia Research during the third quarter valued at approximately $39,000. Finally, SG Americas Securities LLC purchased a new position in shares of Acacia Research during the third quarter valued at approximately $60,000. Institutional investors own 44.87% 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.
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