Acacia Research (NASDAQ:ACTG) Downgraded by StockNews.com

StockNews.com cut shares of Acacia Research (NASDAQ:ACTG) from a buy rating to a hold rating in a report issued on Monday.

Acacia Research Price Performance

Shares of ACTG opened at $4.67 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.02 and a current ratio of 21.40. Acacia Research has a fifty-two week low of $3.43 and a fifty-two week high of $5.74. The firm has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $4.91. The company has a market capitalization of $467.10 million, a price-to-earnings ratio of 12.97 and a beta of 0.54.

Institutional Trading of Acacia Research

Several hedge funds have recently modified their holdings of the business. Acuitas Investments LLC lifted its stake in shares of Acacia Research by 0.5% in the second quarter. Acuitas Investments LLC now owns 497,916 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 2,699 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Acacia Research by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock valued at $338,000 after buying an additional 3,018 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of 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 acquiring an additional 4,638 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Acacia Research by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock worth $7,566,000 after acquiring an additional 6,143 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Acacia Research in the 2nd quarter worth approximately $43,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Acacia Research Company Profile

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.