Acacia Research (NASDAQ:ACTG) Stock Passes Above 200-Day Moving Average of $4.46

Shares of Acacia Research Co. (NASDAQ:ACTGGet Rating) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.46 and traded as high as $4.86. Acacia Research shares last traded at $4.82, with a volume of 698,050 shares traded.

Separately, StockNews.com raised shares of Acacia Research from a “sell” rating to a “hold” rating in a research note on Friday, April 8th.

The business’s 50 day simple moving average is $4.54 and its 200 day simple moving average is $4.46. The company has a market capitalization of $220.80 million, a PE ratio of -68.85 and a beta of 0.44.

Acacia Research (NASDAQ:ACTGGet Rating) last issued its earnings results on Thursday, March 31st. The business services provider reported $0.10 EPS for the quarter. Acacia Research had a net margin of 251.22% and a return on equity of 15.66%. The company had revenue of $63.26 million for the quarter.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Elkhorn Partners Limited Partnership increased its position in shares of Acacia Research by 7.6% during the first quarter. Elkhorn Partners Limited Partnership now owns 31,000 shares of the business services provider’s stock valued at $140,000 after acquiring an additional 2,200 shares during the last quarter. Citigroup Inc. increased its position in shares of Acacia Research by 78.7% during the third quarter. Citigroup Inc. now owns 5,638 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 2,483 shares during the last quarter. Powell Investment Advisors LLC increased its position in shares of Acacia Research by 19.4% during the fourth quarter. Powell Investment Advisors LLC now owns 21,500 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 3,500 shares during the last quarter. Capital Wealth Alliance LLC increased its position in shares of Acacia Research by 1.0% during the fourth quarter. Capital Wealth Alliance LLC now owns 352,352 shares of the business services provider’s stock valued at $1,807,000 after acquiring an additional 3,608 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Acacia Research by 89.5% during the fourth quarter. BNP Paribas Arbitrage SA now owns 21,166 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 9,995 shares during the last quarter. Institutional investors and hedge funds own 63.02% of the company’s stock.

About Acacia Research (NASDAQ:ACTG)

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 two segments, Intellectual Property Operations and Industrial Operations.

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