Acacia Research (NASDAQ:ACTG) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Acacia Research (NASDAQ:ACTG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other equities analysts also recently commented on ACTG. Weiss Ratings reiterated a “sell (d)” rating on shares of Acacia Research in a report on Wednesday, January 21st. Craig Hallum raised their price objective on shares of Acacia Research from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Acacia Research Stock Performance

NASDAQ ACTG opened at $4.88 on Friday. The business’s 50 day moving average price is $4.04 and its 200-day moving average price is $3.70. Acacia Research has a fifty-two week low of $2.70 and a fifty-two week high of $5.13. The company has a market cap of $470.72 million, a P/E ratio of 21.22 and a beta of 0.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.11 and a current ratio of 8.63.

Hedge Funds Weigh In On Acacia Research

A number of large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Acacia Research in the 1st quarter worth approximately $35,000. Pekin Hardy Strauss Inc. acquired a new position in Acacia Research during the 4th quarter valued at approximately $37,000. Zions Bancorporation National Association UT acquired a new position in Acacia Research during the 4th quarter valued at approximately $38,000. Sather Financial Group Inc purchased a new position in shares of Acacia Research in the third quarter worth $48,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Acacia Research in the fourth quarter worth $49,000. 86.69% of the stock is currently owned by institutional investors.

About Acacia Research

Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.

The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.