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

StockNews.com cut shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a sell rating in a research report report published on Wednesday.

Acacia Research Stock Performance

NASDAQ ACTG opened at $4.37 on Wednesday. Acacia Research has a fifty-two week low of $3.66 and a fifty-two week high of $5.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.95 and a current ratio of 16.39. The firm has a market capitalization of $425.50 million, a P/E ratio of 8.25 and a beta of 0.52. The stock has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $4.70.

Insider Activity

In other Acacia Research news, Director Isaac T. Kohlberg sold 15,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $4.57, for a total transaction of $68,550.00. Following the transaction, the director now owns 69,274 shares of the company’s stock, valued at approximately $316,582.18. The trade was a 17.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.65% of the company’s stock.

Hedge Funds Weigh In On Acacia Research

Large investors have recently modified their holdings of the business. Atom Investors LP acquired a new position in Acacia Research during the 3rd quarter worth about $56,000. The Manufacturers Life Insurance Company purchased a new stake in Acacia Research during the 2nd quarter worth about $83,000. Victory Capital Management Inc. increased its holdings in 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. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Acacia Research during the 3rd quarter worth about $117,000. Finally, XTX Topco Ltd purchased a new stake in Acacia Research during the 2nd quarter worth about $174,000. Institutional investors and hedge funds 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.