Acacia Research Co. (NASDAQ:ACTG) Short Interest Update

Acacia Research Co. (NASDAQ:ACTG) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 625,900 shares, a decrease of 10.3% from the March 15th total of 698,000 shares. Based on an average daily volume of 226,300 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Investors Weigh In On Acacia Research

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Acacia Research by 0.3% in the 1st quarter. BlackRock Inc. now owns 927,099 shares of the business services provider’s stock worth $3,579,000 after acquiring an additional 2,601 shares in the last quarter. FMR LLC lifted its stake in Acacia Research by 6.0% in the 2nd quarter. FMR LLC now owns 65,503 shares of the business services provider’s stock worth $330,000 after acquiring an additional 3,704 shares in the last quarter. UBS Group AG lifted its stake in Acacia Research by 218.4% in the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock worth $29,000 after acquiring an additional 5,040 shares in the last quarter. SG Americas Securities LLC lifted its stake in Acacia Research by 41.9% in the 4th quarter. SG Americas Securities LLC now owns 23,244 shares of the business services provider’s stock worth $91,000 after acquiring an additional 6,866 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Acacia Research in the 3rd quarter worth about $39,000. 86.69% of the stock is owned by institutional investors and hedge funds.

Acacia Research Stock Performance

Shares of NASDAQ ACTG opened at $5.02 on Monday. The company has a current ratio of 20.07, a quick ratio of 19.67 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $4.53 and a 200-day simple moving average of $4.03. The company has a market cap of $501.47 million, a PE ratio of 17.31 and a beta of 0.46. Acacia Research has a 12-month low of $3.43 and a 12-month high of $5.47.

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

Wall Street Analyst Weigh In

ACTG has been the subject of several recent research reports. Craig Hallum upped their target price on Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 15th. StockNews.com upgraded Acacia Research from a “sell” rating to a “hold” rating in a research report on Monday, March 18th.

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.