StockNews.com Upgrades Acacia Research (NASDAQ:ACTG) to Hold

Acacia Research (NASDAQ:ACTG) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Acacia Research Trading Up 2.8 %

NASDAQ ACTG opened at $4.09 on Wednesday. The company has a quick ratio of 15.95, a current ratio of 16.39 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $4.30 and its two-hundred day simple moving average is $4.49. Acacia Research has a twelve month low of $3.88 and a twelve month high of $5.74. The company has a market capitalization of $398.24 million, a price-to-earnings ratio of 7.72 and a beta of 0.51.

Institutional Trading of Acacia Research

Several hedge funds and other institutional investors have recently bought and sold shares of ACTG. Formidable Asset Management LLC lifted its holdings in shares of Acacia Research by 1.0% in the 4th quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider’s stock worth $4,353,000 after acquiring an additional 10,257 shares during the last quarter. Tidal Investments LLC lifted its stake in Acacia Research by 6.2% in the fourth quarter. Tidal Investments LLC now owns 418,143 shares of the business services provider’s stock worth $1,815,000 after purchasing an additional 24,559 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Acacia Research during the fourth quarter valued at about $46,000. Occudo Quantitative Strategies LP grew its stake in shares of Acacia Research by 77.7% during the fourth quarter. Occudo Quantitative Strategies LP now owns 23,752 shares of the business services provider’s stock valued at $103,000 after buying an additional 10,382 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Acacia Research in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.