Acacia Research (NASDAQ:ACTG) Cut to “Sell” at StockNews.com

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

Acacia Research Stock Performance

ACTG opened at $4.24 on Tuesday. The company has a current ratio of 16.39, a quick ratio of 15.95 and a debt-to-equity ratio of 0.12. Acacia Research has a 12-month low of $3.92 and a 12-month high of $5.74. The firm has a 50 day moving average of $4.33 and a two-hundred day moving average of $4.51. The firm has a market capitalization of $412.85 million, a PE ratio of 8.00 and a beta of 0.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACTG. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Acacia Research during the 3rd quarter valued at about $117,000. Atom Investors LP acquired a new stake in Acacia Research during the third quarter worth about $56,000. State Street Corp raised its position in Acacia Research by 9.2% during the third quarter. State Street Corp now owns 3,151,647 shares of the business services provider’s stock valued at $14,687,000 after acquiring an additional 265,993 shares in the last quarter. Jane Street Group LLC raised its position in Acacia Research by 141.7% during the third quarter. Jane Street Group LLC now owns 76,818 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 45,031 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Acacia Research by 7.4% in the third quarter. XTX Topco Ltd now owns 37,277 shares of the business services provider’s stock valued at $174,000 after acquiring an additional 2,565 shares during the period. 86.69% of the stock is currently owned by institutional investors and hedge funds.

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.