Acacia Research Co. (NASDAQ:ACTG) Short Interest Update

Acacia Research Co. (NASDAQ:ACTG) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 692,600 shares, an increase of 14.6% from the May 31st total of 604,300 shares. Based on an average daily trading volume, of 223,700 shares, the days-to-cover ratio is currently 3.1 days.

Acacia Research Price Performance

NASDAQ:ACTG opened at $5.07 on Wednesday. The firm has a market capitalization of $507.10 million, a price-to-earnings ratio of 14.08 and a beta of 0.54. Acacia Research has a 1 year low of $3.43 and a 1 year high of $5.74. The business has a 50 day simple moving average of $5.21 and a 200-day simple moving average of $4.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.40 and a quick ratio of 21.02.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported $0.06 earnings per share (EPS) for the quarter. Acacia Research had a return on equity of 13.02% and a net margin of 40.89%. The business had revenue of $24.32 million during the quarter.

Analyst Ratings Changes

ACTG has been the subject of several analyst reports. StockNews.com raised Acacia Research from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Craig Hallum raised their price objective on Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, March 15th.

Insiders Place Their Bets

In other Acacia Research news, General Counsel Jason W. Soncini bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of $5.36 per share, for a total transaction of $26,800.00. Following the completion of the transaction, the general counsel now owns 226,661 shares of the company’s stock, valued at approximately $1,214,902.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Martin D. Jr. Mcnulty purchased 14,534 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of $5.25 per share, with a total value of $76,303.50. Following the completion of the purchase, the chief executive officer now owns 193,699 shares in the company, valued at $1,016,919.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jason W. Soncini purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $5.36 per share, with a total value of $26,800.00. Following the completion of the purchase, the general counsel now owns 226,661 shares of the company’s stock, valued at approximately $1,214,902.96. The disclosure for this purchase can be found here. Company insiders own 1.65% of the company’s stock.

Institutional Investors Weigh In On Acacia Research

Hedge funds and other institutional investors have recently modified their holdings of the business. Corsair Capital Management L.P. purchased a new stake in shares of Acacia Research in the fourth quarter worth approximately $59,000. SG Americas Securities LLC raised its holdings in shares of Acacia Research by 41.9% in the fourth quarter. SG Americas Securities LLC now owns 23,244 shares of the business services provider’s stock worth $91,000 after buying an additional 6,866 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Acacia Research in the first quarter worth approximately $136,000. BNP Paribas Financial Markets raised its holdings in shares of Acacia Research by 146.4% in the first quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after buying an additional 16,735 shares during the period. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of Acacia Research in the first quarter worth approximately $153,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

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.