Acacia Research (NASDAQ:ACTG) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Acacia Research (NASDAQ:ACTG) from a hold rating to a buy rating in a report published on Tuesday.

Acacia Research Stock Up 0.2 %

NASDAQ:ACTG opened at $5.42 on Tuesday. The firm has a market capitalization of $542.11 million, a price-to-earnings ratio of 15.06 and a beta of 0.54. Acacia Research has a 1-year low of $3.43 and a 1-year high of $5.74. The company has a current ratio of 21.40, a quick ratio of 21.02 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $5.31 and its 200 day moving average price is $4.81.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.06 earnings per share for the quarter. The firm had revenue of $24.32 million for the quarter. Acacia Research had a return on equity of 13.02% and a net margin of 40.89%.

Insider Activity at Acacia Research

In other news, General Counsel Jason W. Soncini bought 5,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $5.36 per share, with a total value of $26,800.00. Following the transaction, the general counsel now directly owns 226,661 shares in the company, valued at approximately $1,214,902.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Jason W. Soncini bought 5,000 shares of the company’s stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $5.36 per share, with a total value of $26,800.00. Following the transaction, the general counsel now directly owns 226,661 shares in the company, valued at approximately $1,214,902.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Martin D. Jr. Mcnulty bought 14,534 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $76,303.50. Following the completion of the transaction, the chief executive officer now owns 193,699 shares in the company, valued at $1,016,919.75. The disclosure for this purchase can be found here. 1.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of Acacia Research by 18.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 124,099 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 19,134 shares during the last quarter. Krilogy Financial LLC boosted its stake in Acacia Research by 73.0% during the 2nd quarter. Krilogy Financial LLC now owns 813,000 shares of the business services provider’s stock valued at $4,073,000 after purchasing an additional 343,000 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Acacia Research by 5.0% during the 1st 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. Elkhorn Partners Limited Partnership boosted its stake in Acacia Research by 186.6% during the 1st quarter. Elkhorn Partners Limited Partnership now owns 92,000 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 59,900 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Acacia Research during the 1st quarter valued at approximately $439,000. Institutional investors and hedge funds own 86.69% of the company’s stock.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in intellectual property and related absolute return assets; and engages in the licensing and enforcement of patented technologies. The company operates through three segments, Intellectual Property Operations, Industrial Operations, and Energy Operations.