Acacia Research (NASDAQ:ACTG - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.
Acacia Research Price Performance
Shares of ACTG traded down $0.04 during mid-day trading on Friday, reaching $3.36. The company had a trading volume of 181,284 shares, compared to its average volume of 254,382. The company's 50-day moving average is $4.15 and its 200-day moving average is $4.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.39 and a quick ratio of 15.95. The company has a market capitalization of $322.85 million, a P/E ratio of 6.34 and a beta of 0.49. Acacia Research has a twelve month low of $3.37 and a twelve month high of $5.74.
Hedge Funds Weigh In On Acacia Research
Several institutional investors have recently added to or reduced their stakes in ACTG. State Street Corp boosted its holdings in shares of Acacia Research by 9.2% in the 3rd quarter. State Street Corp now owns 3,151,647 shares of the business services provider's stock worth $14,687,000 after acquiring an additional 265,993 shares in the last quarter. Peapod Lane Capital LLC acquired a new position in Acacia Research in the fourth quarter worth $1,033,000. Dimensional Fund Advisors LP grew its holdings in shares of Acacia Research by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,673 shares of the business services provider's stock worth $9,985,000 after purchasing an additional 220,579 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Acacia Research by 142.5% in the fourth quarter. Bank of New York Mellon Corp now owns 247,099 shares of the business services provider's stock valued at $1,072,000 after buying an additional 145,216 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Acacia Research by 113.0% in the fourth quarter. Empowered Funds LLC now owns 163,076 shares of the business services provider's stock valued at $708,000 after buying an additional 86,531 shares during the last quarter. 86.69% of the stock is owned by institutional investors.
Acacia Research Company Profile
(
Get Free Report)
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.
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