Short Interest in Acacia Research Co. (NASDAQ:ACTG) Rises By 17.5%

Acacia Research Co. (NASDAQ:ACTG) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 1,070,000 shares, an increase of 17.5% from the September 15th total of 910,600 shares. Based on an average daily volume of 338,200 shares, the short-interest ratio is presently 3.2 days.

Acacia Research Stock Up 1.8 %

ACTG opened at $4.60 on Monday. The company has a market cap of $460.10 million, a PE ratio of 12.78 and a beta of 0.52. Acacia Research has a twelve month low of $3.43 and a twelve month high of $5.74. The company has a 50-day moving average price of $4.68 and a 200 day moving average price of $5.03. The company has a quick ratio of 10.90, a current ratio of 11.17 and a debt-to-equity ratio of 0.14.

Acacia Research (NASDAQ:ACTG) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter. Acacia Research had a return on equity of 12.00% and a net margin of 44.42%. The firm had revenue of $25.84 million during the quarter.

Hedge Funds Weigh In On Acacia Research

A number of institutional investors and hedge funds have recently bought and sold shares of ACTG. Acuitas Investments LLC lifted its position in Acacia Research by 0.5% during the second quarter. Acuitas Investments LLC now owns 497,916 shares of the business services provider’s stock worth $2,495,000 after buying an additional 2,699 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Acacia Research by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 63,244 shares of the business services provider’s stock valued at $338,000 after purchasing an additional 3,018 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Acacia Research by 36.0% in the 2nd quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 4,638 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Acacia Research by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,510,243 shares of the business services provider’s stock worth $7,566,000 after purchasing an additional 6,143 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Acacia Research in the 2nd quarter valued at about $43,000. 86.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut Acacia Research from a “hold” rating to a “sell” rating in a research report on Friday.

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.