Acacia Research (NASDAQ:ACTG) Shares Gap Up – Still a Buy?

Acacia Research Co. (NASDAQ:ACTG) gapped up before the market opened on Monday . The stock had previously closed at $4.73, but opened at $4.90. Acacia Research shares last traded at $5.03, with a volume of 140,838 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Acacia Research from a “hold” rating to a “sell” rating in a report on Friday, October 11th.

Acacia Research Price Performance

The firm has a 50-day simple moving average of $4.67 and a 200-day simple moving average of $5.01. The firm has a market cap of $483.11 million, a P/E 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.

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

Institutional Trading of Acacia Research

Institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Acacia Research during the second quarter valued at approximately $43,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Acacia Research during the 2nd quarter valued at $83,000. Victory Capital Management Inc. lifted its holdings 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 purchasing an additional 4,638 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Acacia Research in the 1st quarter worth $136,000. Finally, BNP Paribas Financial Markets grew its stake 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 buying an additional 16,735 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors.

About Acacia Research

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.