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

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

Acacia Research Trading Up 5.8 %

Shares of Acacia Research stock traded up $0.26 during trading on Wednesday, reaching $4.72. The company’s stock had a trading volume of 454,609 shares, compared to its average volume of 258,685. Acacia Research has a 52-week low of $3.55 and a 52-week high of $5.74. The company has a market cap of $473.79 million, a price-to-earnings ratio of 7.38 and a beta of 0.53. The firm’s 50-day moving average is $4.66 and its two-hundred day moving average is $4.97. The company has a quick ratio of 10.90, a current ratio of 11.17 and a debt-to-equity ratio of 0.14.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported ($0.02) EPS for the quarter. Acacia Research had a net margin of 44.42% and a return on equity of 12.00%. The firm had revenue of $25.84 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Acacia Research in the 2nd quarter worth about $43,000. The Manufacturers Life Insurance Company purchased a new stake in Acacia Research during the 2nd quarter valued at about $83,000. Victory Capital Management Inc. grew its position in Acacia Research by 36.0% during the 2nd quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 4,638 shares during the last quarter. BNP Paribas Financial Markets grew its position in Acacia Research by 146.4% during the 1st quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 16,735 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Acacia Research during the 2nd quarter valued at about $174,000. 86.69% of the stock is currently owned by institutional investors.

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.