Acacia Research Co. (NASDAQ:ACTG) Sees Significant Drop in Short Interest

Acacia Research Co. (NASDAQ:ACTG) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,250,000 shares, a drop of 7.4% from the December 31st total of 1,350,000 shares. Based on an average daily trading volume, of 259,000 shares, the short-interest ratio is presently 4.8 days.

Acacia Research Price Performance

ACTG stock opened at $4.36 on Friday. The firm has a 50 day moving average price of $4.41 and a 200-day moving average price of $4.63. Acacia Research has a 52-week low of $3.78 and a 52-week high of $5.74. The firm has a market capitalization of $424.53 million, a price-to-earnings ratio of 8.23 and a beta of 0.52. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.95 and a current ratio of 16.39.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Acacia Research from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th.

Insiders Place Their Bets

In other Acacia Research news, Director Isaac T. Kohlberg sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $4.57, for a total value of $68,550.00. Following the completion of the sale, the director now directly owns 69,274 shares in the company, valued at $316,582.18. This trade represents a 17.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Acacia Research

Several large investors have recently made changes to their positions in ACTG. Atom Investors LP bought a new stake in shares of Acacia Research during the third quarter valued at approximately $56,000. The Manufacturers Life Insurance Company bought a new stake in shares of Acacia Research during the second quarter valued at approximately $83,000. SG Americas Securities LLC increased its position in shares of 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 acquiring an additional 4,327 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Acacia Research during the third quarter valued at approximately $117,000. Finally, XTX Topco Ltd grew its position in Acacia Research by 7.4% in the 3rd quarter. XTX Topco Ltd now owns 37,277 shares of the business services provider’s stock worth $174,000 after purchasing an additional 2,565 shares during the period. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

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.