Acacia Research (NASDAQ:ACTG) Stock Rating Upgraded by Wall Street Zen

Acacia Research (NASDAQ:ACTG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Acacia Research Price Performance

NASDAQ ACTG opened at $3.58 on Friday. The business’s fifty day moving average price is $3.49 and its 200-day moving average price is $3.86. The stock has a market capitalization of $344.30 million, a price-to-earnings ratio of -32.55 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.16 and a quick ratio of 5.81. Acacia Research has a 1-year low of $2.70 and a 1-year high of $5.70.

Acacia Research (NASDAQ:ACTG) last released its quarterly earnings results on Thursday, May 8th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.38. Acacia Research had a positive return on equity of 2.09% and a negative net margin of 5.21%.

Insider Activity

In related news, Director Isaac T. Kohlberg sold 16,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $3.84, for a total value of $61,440.00. Following the transaction, the director now directly owns 85,446 shares of the company’s stock, valued at approximately $328,112.64. This trade represents a 15.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Acacia Research

A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Acacia Research in the 1st quarter worth $169,000. Empowered Funds LLC raised its holdings in Acacia Research by 8.9% in the 1st quarter. Empowered Funds LLC now owns 177,666 shares of the business services provider’s stock worth $569,000 after purchasing an additional 14,590 shares during the period. AQR Capital Management LLC purchased a new stake in Acacia Research in the 1st quarter worth $35,000. Alpine Global Management LLC purchased a new stake in Acacia Research in the 1st quarter worth $41,000. Finally, Clayton Partners LLC purchased a new stake in Acacia Research in the 1st quarter worth $453,000. 86.69% of the stock is owned by 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.