Acacia Research (NASDAQ:ACTG) Downgraded by Wall Street Zen to Hold

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

Several other equities analysts also recently commented on ACTG. Weiss Ratings reiterated a “sell (d)” rating on shares of Acacia Research in a report on Wednesday, January 21st. Craig Hallum boosted their price objective on shares of Acacia Research from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Acacia Research Stock Performance

Shares of NASDAQ ACTG opened at $4.88 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.11 and a current ratio of 8.63. The firm has a market cap of $470.72 million, a price-to-earnings ratio of 21.22 and a beta of 0.52. The business’s 50-day simple moving average is $4.04 and its 200-day simple moving average is $3.70. Acacia Research has a 52 week low of $2.70 and a 52 week high of $5.13.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. lifted its holdings in shares of Acacia Research by 195.0% during the third quarter. Levin Capital Strategies L.P. now owns 889,547 shares of the business services provider’s stock worth $2,891,000 after buying an additional 587,973 shares during the last quarter. Permanent Capital Management LP bought a new stake in shares of Acacia Research in the third quarter valued at approximately $1,317,000. State Street Corp grew its stake in shares of Acacia Research by 12.8% in the fourth quarter. State Street Corp now owns 3,145,981 shares of the business services provider’s stock worth $11,766,000 after acquiring an additional 355,916 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Acacia Research by 65.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 441,886 shares of the business services provider’s stock worth $1,653,000 after acquiring an additional 174,752 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Acacia Research during the second quarter worth $614,000. 86.69% of the stock is owned by institutional investors.

Acacia Research Company Profile

Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.

The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.