Acacia Research (NASDAQ:ACTG) Stock Price Crosses Above 200-Day Moving Average of $4.02

Shares of Acacia Research Co. (NASDAQ:ACTG) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.02 and traded as high as $5.15. Acacia Research shares last traded at $5.02, with a volume of 126,738 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ACTG shares. Craig Hallum raised their target price on Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. StockNews.com raised Acacia Research from a “sell” rating to a “hold” rating in a research note on Monday, March 18th.

Acacia Research Stock Performance

The firm has a 50-day moving average price of $4.53 and a 200 day moving average price of $4.02. The firm has a market capitalization of $501.45 million, a PE ratio of 17.31 and a beta of 0.46. The company has a quick ratio of 19.67, a current ratio of 20.07 and a debt-to-equity ratio of 0.02.

Acacia Research (NASDAQ:ACTG) last released its quarterly earnings results on Thursday, March 14th. The business services provider reported $0.67 EPS for the quarter. Acacia Research had a return on equity of 11.47% and a net margin of 48.92%. The business had revenue of $92.31 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG lifted its holdings in Acacia Research by 218.4% during the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock worth $29,000 after buying an additional 5,040 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Acacia Research during the 3rd quarter worth about $39,000. Jump Financial LLC purchased a new stake in Acacia Research during the 3rd quarter worth about $41,000. State Board of Administration of Florida Retirement System purchased a new stake in Acacia Research during the 2nd quarter worth about $45,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Acacia Research during the first quarter worth about $49,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Acacia Research Company Profile

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.