Acacia Research (NASDAQ:ACTG) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a sell rating in a research note published on Saturday morning.

Acacia Research Trading Down 0.9 %

NASDAQ:ACTG opened at $3.42 on Friday. Acacia Research has a 12 month low of $3.37 and a 12 month high of $5.74. The firm has a market cap of $328.61 million, a price-to-earnings ratio of 6.45 and a beta of 0.49. 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 company’s 50 day moving average is $4.17 and its 200-day moving average is $4.41.

Hedge Funds Weigh In On Acacia Research

A number of institutional investors have recently modified their holdings of the company. Formidable Asset Management LLC raised its position in shares of Acacia Research by 1.0% in the fourth quarter. Formidable Asset Management LLC now owns 1,002,922 shares of the business services provider’s stock valued at $4,353,000 after purchasing an additional 10,257 shares during the period. Tidal Investments LLC increased its position in Acacia Research by 6.2% during the fourth quarter. Tidal Investments LLC now owns 418,143 shares of the business services provider’s stock worth $1,815,000 after acquiring an additional 24,559 shares during the period. ProShare Advisors LLC bought a new position in Acacia Research during the fourth quarter worth $46,000. Occudo Quantitative Strategies LP increased its position in 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 worth $103,000 after acquiring an additional 10,382 shares during the period. Finally, Deutsche Bank AG bought a new position in Acacia Research during the fourth quarter worth $40,000. 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.