Acacia Research (NASDAQ:ACTG) Price Target Raised to $6.00

Acacia Research (NASDAQ:ACTG) had its price objective lifted by Craig Hallum from $5.00 to $6.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other analysts have also recently weighed in on ACTG. Wall Street Zen upgraded Acacia Research from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Acacia Research in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Acacia Research Price Performance

Shares of ACTG opened at $4.88 on Thursday. The company has a quick ratio of 8.11, a current ratio of 8.63 and a debt-to-equity ratio of 0.16. The stock has a market cap of $470.72 million, a PE ratio of 21.22 and a beta of 0.52. Acacia Research has a 12-month low of $2.70 and a 12-month high of $5.13. The business has a 50-day simple moving average of $4.04 and a two-hundred day simple moving average of $3.70.

Institutional Investors Weigh In On Acacia Research

A number of institutional investors have recently made changes to their positions in ACTG. State Street Corp boosted its position in shares of Acacia Research by 12.8% during the 4th quarter. State Street Corp now owns 3,145,981 shares of the business services provider’s stock valued at $11,766,000 after purchasing an additional 355,916 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Acacia Research by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,758,800 shares of the business services provider’s stock valued at $10,318,000 after buying an additional 10,504 shares during the period. Krilogy Financial LLC lifted its stake in Acacia Research by 3.8% in the fourth quarter. Krilogy Financial LLC now owns 1,243,413 shares of the business services provider’s stock valued at $4,899,000 after buying an additional 45,015 shares during the period. Levin Capital Strategies L.P. boosted its holdings in shares of Acacia Research by 10.5% during the 4th quarter. Levin Capital Strategies L.P. now owns 983,261 shares of the business services provider’s stock worth $3,677,000 after buying an additional 93,714 shares in the last quarter. Finally, Formidable Asset Management LLC boosted its holdings in shares of Acacia Research by 7.0% during the 3rd quarter. Formidable Asset Management LLC now owns 960,355 shares of the business services provider’s stock worth $3,245,000 after buying an additional 62,625 shares in the last quarter. Institutional investors own 86.69% of the company’s stock.

About Acacia Research

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.