Acacia Research (NASDAQ:ACTG) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Acacia Research Corporation (NASDAQ:ACTG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.45 and traded as high as $4.51. Acacia Research shares last traded at $4.38, with a volume of 694,570 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACTG. Wall Street Zen lowered shares of Acacia Research from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings lowered Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Acacia Research Stock Performance

The company has a current ratio of 8.56, a quick ratio of 8.09 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $4.67 and a 200 day moving average price of $4.45. The firm has a market cap of $426.93 million, a PE ratio of -24.56 and a beta of 0.43.

Acacia Research (NASDAQ:ACTG) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Acacia Research had a negative net margin of 8.53% and a negative return on equity of 2.81%. The firm had revenue of $54.24 million during the quarter, compared to analyst estimates of $50.00 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Institutional Trading of Acacia Research

Several hedge funds have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Acacia Research by 12.8% during the 4th quarter. State Street Corp now owns 3,145,981 shares of the business services provider’s stock worth $11,766,000 after buying an additional 355,916 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Acacia Research by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,853,889 shares of the business services provider’s stock valued at $13,728,000 after acquiring an additional 95,089 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Acacia Research by 0.9% in the first quarter. Renaissance Technologies LLC now owns 1,407,584 shares of the business services provider’s stock valued at $6,770,000 after acquiring an additional 12,284 shares during the last quarter. Krilogy Financial LLC grew its position in Acacia Research by 3.8% in the fourth quarter. Krilogy Financial LLC now owns 1,243,413 shares of the business services provider’s stock worth $4,899,000 after acquiring an additional 45,015 shares during the period. Finally, Levin Capital Strategies L.P. grew its position in Acacia Research by 10.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 983,261 shares of the business services provider’s stock worth $3,677,000 after acquiring an additional 93,714 shares during the period. Hedge funds and other institutional investors own 86.69% of the company’s stock.

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.