Acacia Research (NASDAQ:ACTG) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Acacia Research (NASDAQ:ACTG) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Acacia Research Stock Up 2.2 %

Shares of NASDAQ ACTG opened at $4.58 on Monday. The stock has a market capitalization of $458.10 million, a price-to-earnings ratio of 12.72 and a beta of 0.54. Acacia Research has a 52 week low of $3.43 and a 52 week high of $5.74. The firm has a 50-day moving average price of $5.14 and a 200 day moving average price of $4.91. The company has a quick ratio of 21.02, a current ratio of 21.40 and a debt-to-equity ratio of 0.02.

Insiders Place Their Bets

In other news, General Counsel Jason W. Soncini purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was acquired 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 directly owns 226,661 shares in the company, valued at approximately $1,214,902.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.65% of the stock is owned by company insiders.

Institutional Trading of Acacia Research

Several institutional investors and hedge funds have recently modified their holdings of the business. Innealta Capital LLC acquired a new position in shares of Acacia Research during the 2nd quarter worth approximately $43,000. Corsair Capital Management L.P. acquired a new position in shares of Acacia Research in the fourth quarter worth $59,000. Victory Capital Management Inc. lifted its position in shares of Acacia Research by 36.0% in the second 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 in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Acacia Research during the first quarter valued at $136,000. Finally, BNP Paribas Financial Markets increased its position 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 in the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About Acacia Research

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.