StockNews.com downgraded shares of Acacia Research (NASDAQ:ACTG – Free Report) 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
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.
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