Acacia Research (NASDAQ:ACTG) Cut to “Hold” at StockNews.com

Acacia Research (NASDAQ:ACTG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Acacia Research Stock Up 3.0 %

Acacia Research stock traded up $0.16 during trading hours on Monday, hitting $5.58. The stock had a trading volume of 541,186 shares, compared to its average volume of 220,825. The company has a quick ratio of 21.02, a current ratio of 21.40 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $558.11 million, a P/E ratio of 15.50 and a beta of 0.54. Acacia Research has a 12-month low of $3.43 and a 12-month high of $5.74. The stock’s 50-day moving average price is $5.27 and its 200-day moving average price is $4.72.

Acacia Research (NASDAQ:ACTG) last issued its earnings results on Thursday, May 9th. The business services provider reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $24.32 million during the quarter. Acacia Research had a net margin of 40.89% and a return on equity of 13.02%.

Insiders Place Their Bets

In other news, General Counsel Jason W. Soncini bought 5,000 shares of Acacia Research stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $5.36 per share, with a total value of $26,800.00. Following the completion of the purchase, the general counsel now 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 available at this hyperlink. In related news, General Counsel Jason W. Soncini purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were purchased at an average cost of $5.36 per share, for a total transaction of $26,800.00. Following the completion of the acquisition, the general counsel now owns 226,661 shares in the company, valued at approximately $1,214,902.96. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Martin D. Jr. Mcnulty bought 14,534 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average price of $5.25 per share, for a total transaction of $76,303.50. Following the completion of the acquisition, the chief executive officer now owns 193,699 shares in the company, valued at $1,016,919.75. The disclosure for this purchase can be found here. Company insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On Acacia Research

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Krilogy Financial LLC grew its stake in shares of Acacia Research by 74.1% during the 1st quarter. Krilogy Financial LLC now owns 470,000 shares of the business services provider’s stock worth $2,505,000 after purchasing an additional 200,000 shares during the period. Quadrature Capital Ltd acquired a new stake in Acacia Research in the 1st quarter valued at $439,000. Elkhorn Partners Limited Partnership grew its stake in Acacia Research by 186.6% in the 1st quarter. Elkhorn Partners Limited Partnership now owns 92,000 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 59,900 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Acacia Research in the 1st quarter valued at $153,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Acacia Research in the 1st quarter valued at $136,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

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.