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

Acacia Research (NASDAQ:ACTG) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Acacia Research Stock Down 4.5 %

Shares of ACTG traded down $0.21 during midday trading on Tuesday, reaching $4.45. The stock had a trading volume of 569,633 shares, compared to its average volume of 257,043. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.17 and a quick ratio of 10.90. The company’s fifty day simple moving average is $4.80 and its two-hundred day simple moving average is $5.07. The company has a market cap of $445.10 million, a price-to-earnings ratio of 12.36 and a beta of 0.52. Acacia Research has a 1-year low of $3.43 and a 1-year high of $5.74.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $25.84 million for the quarter. Acacia Research had a return on equity of 12.00% and a net margin of 44.42%.

Hedge Funds Weigh In On Acacia Research

Several hedge funds have recently added to or reduced their stakes in ACTG. Vanguard Group Inc. boosted its holdings in shares of Acacia Research by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 2,247,635 shares of the business services provider’s stock valued at $11,980,000 after buying an additional 13,692 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Acacia Research by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,772,295 shares of the business services provider’s stock worth $8,878,000 after purchasing an additional 233,759 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Acacia Research by 0.4% during the second quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock worth $7,566,000 after purchasing an additional 6,143 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of Acacia Research by 73.0% in the 2nd quarter. Krilogy Financial LLC now owns 813,000 shares of the business services provider’s stock valued at $4,073,000 after purchasing an additional 343,000 shares during the last quarter. Finally, Acuitas Investments LLC boosted its position in shares of Acacia Research by 0.5% in the 2nd quarter. Acuitas Investments LLC now owns 497,916 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 2,699 shares during the period. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

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.