StockNews.com Downgrades Acacia Research (NASDAQ:ACTG) to Sell

StockNews.com lowered shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a sell rating in a research note released on Thursday morning.

Acacia Research Stock Up 0.5 %

NASDAQ:ACTG traded up $0.02 during midday trading on Thursday, reaching $4.39. The company had a trading volume of 66,001 shares, compared to its average volume of 262,430. Acacia Research has a 12-month low of $3.58 and a 12-month high of $5.74. The stock’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $4.95. The company has a current ratio of 16.39, a quick ratio of 10.90 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $427.45 million, a price-to-earnings ratio of 8.25 and a beta of 0.53.

Institutional Investors Weigh In On Acacia Research

Several large investors have recently modified their holdings of ACTG. Innealta Capital LLC purchased a new position in Acacia Research in the second quarter valued at about $43,000. Atom Investors LP acquired a new position in shares of Acacia Research in the third quarter valued at approximately $56,000. The Manufacturers Life Insurance Company purchased a new stake in Acacia Research in the 2nd quarter worth approximately $83,000. Victory Capital Management Inc. lifted its stake 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 worth $88,000 after purchasing an additional 4,638 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Acacia Research in the third quarter valued at $117,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.