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

StockNews.com upgraded shares of Acacia Research (NASDAQ:ACTG) from a sell rating to a hold rating in a research report released on Wednesday morning.

Acacia Research Stock Up 1.0 %

Shares of Acacia Research stock opened at $3.98 on Wednesday. The stock has a 50-day simple moving average of $4.31 and a 200-day simple moving average of $4.50. Acacia Research has a 52-week low of $3.88 and a 52-week high of $5.74. The firm has a market cap of $387.52 million, a price-to-earnings ratio of 7.51 and a beta of 0.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 16.39 and a quick ratio of 15.95.

Institutional Investors Weigh In On Acacia Research

A number of large investors have recently bought and sold shares of ACTG. XTX Topco Ltd increased its holdings in shares of Acacia Research by 7.4% during the 3rd 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in Acacia Research by 5.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,399 shares of the business services provider’s stock worth $232,000 after purchasing an additional 2,581 shares during the period. SG Americas Securities LLC grew its holdings in Acacia Research by 28.1% during the fourth quarter. SG Americas Securities LLC now owns 19,735 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 4,327 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Acacia Research by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 22,160 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 4,825 shares during the period. Finally, Barclays PLC lifted its stake in shares of Acacia Research by 14.1% in the fourth quarter. Barclays PLC now owns 56,787 shares of the business services provider’s stock worth $247,000 after buying an additional 6,999 shares during the last quarter. 86.69% of the stock is currently owned by institutional investors.

Acacia Research Company Profile

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.