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

StockNews.com cut shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

Acacia Research Stock Performance

NASDAQ:ACTG opened at $4.43 on Thursday. The company has a market cap of $431.34 million, a P/E ratio of 8.36 and a beta of 0.53. The firm’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.95. Acacia Research has a fifty-two week low of $3.58 and a fifty-two week high of $5.74. The company has a quick ratio of 10.90, a current ratio of 16.39 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Acacia Research

A number of institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Acacia Research during the 2nd quarter worth about $43,000. Atom Investors LP acquired a new position in Acacia Research during the third quarter valued at approximately $56,000. The Manufacturers Life Insurance Company purchased a new stake in Acacia Research during the second quarter worth approximately $83,000. Victory Capital Management Inc. grew its stake in Acacia Research by 36.0% during the second quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock worth $88,000 after buying an additional 4,638 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Acacia Research in the third quarter worth $117,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.