Acacia Research (NASDAQ:ACTG) Stock Rating Lowered by StockNews.com

Acacia Research (NASDAQ:ACTG) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Acacia Research Trading Down 0.8 %

Shares of ACTG opened at $3.58 on Thursday. The stock has a market cap of $348.58 million, a PE ratio of 6.75 and a beta of 0.49. The stock has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $4.47. Acacia Research has a 1 year low of $3.42 and a 1 year high of $5.74. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Acacia Research

A number of institutional investors have recently modified their holdings of ACTG. Formidable Asset Management LLC lifted its holdings in Acacia Research by 1.0% in the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider’s stock valued at $4,353,000 after buying an additional 10,257 shares during the period. Tidal Investments LLC boosted its stake in Acacia Research by 6.2% in the 4th quarter. Tidal Investments LLC now owns 418,143 shares of the business services provider’s stock worth $1,815,000 after purchasing an additional 24,559 shares during the period. ProShare Advisors LLC bought a new position in shares of Acacia Research during the fourth quarter worth about $46,000. Occudo Quantitative Strategies LP grew its stake in shares of Acacia Research by 77.7% during the 4th quarter. Occudo Quantitative Strategies LP now owns 23,752 shares of the business services provider’s stock worth $103,000 after acquiring an additional 10,382 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Acacia Research in the 4th quarter valued at $40,000. 86.69% of the stock is owned by institutional investors.

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.