Acacia Research (NASDAQ:ACTG) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a sell rating in a report published on Thursday morning.

Acacia Research Stock Up 1.4 %

Acacia Research stock opened at $4.43 on Thursday. The company has a market capitalization of $431.35 million, a PE ratio of 8.36 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.90 and a current ratio of 16.39. Acacia Research has a fifty-two week low of $3.58 and a fifty-two week high of $5.74. The firm has a 50 day moving average price of $4.62 and a 200 day moving average price of $4.95.

Hedge Funds Weigh In On Acacia Research

Several hedge funds have recently bought and sold shares of ACTG. The Manufacturers Life Insurance Company acquired a new position in shares of Acacia Research in the second quarter valued at approximately $83,000. Dimensional Fund Advisors LP raised its stake 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 valued at $8,878,000 after acquiring an additional 233,759 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Acacia Research by 0.6% in the first quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock valued at $11,980,000 after purchasing an additional 13,692 shares during the period. American Century Companies Inc. grew its stake in Acacia Research by 392.1% during the 2nd quarter. American Century Companies Inc. now owns 142,082 shares of the business services provider’s stock worth $712,000 after purchasing an additional 113,207 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings 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 worth $150,000 after purchasing an additional 16,735 shares during the period. Institutional investors and hedge funds own 86.69% of the company’s stock.

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.