Acacia Research Co. (NASDAQ:ACTG) Sees Significant Increase in Short Interest

Acacia Research Co. (NASDAQ:ACTG) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 910,600 shares, an increase of 15.8% from the August 31st total of 786,200 shares. Based on an average daily volume of 318,000 shares, the days-to-cover ratio is presently 2.9 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Acacia Research from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

Hedge Funds Weigh In On Acacia Research

Several hedge funds have recently made changes to their positions in ACTG. Krilogy Financial LLC grew its stake in shares of Acacia Research by 73.0% in the 2nd quarter. Krilogy Financial LLC now owns 813,000 shares of the business services provider’s stock worth $4,073,000 after purchasing an additional 343,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Acacia Research by 15.2% in the second 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. boosted its holdings in shares of Acacia Research by 392.1% in the second 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. Quadrature Capital Ltd acquired a new position in shares of Acacia Research in the first quarter worth about $439,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Acacia Research in the second quarter worth about $354,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Acacia Research Stock Down 0.6 %

Acacia Research stock opened at $4.73 on Monday. The stock has a market cap of $473.10 million, a price-to-earnings ratio of 13.14 and a beta of 0.52. The company has a current ratio of 11.17, a quick ratio of 10.90 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $5.06. Acacia Research has a 52 week low of $3.43 and a 52 week high of $5.74.

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

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.