Acacia Research Co. (NASDAQ:ACTG) Short Interest Update

Acacia Research Co. (NASDAQ:ACTG) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 692,600 shares, an increase of 14.6% from the May 31st total of 604,300 shares. Based on an average daily volume of 223,700 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ACTG shares. StockNews.com raised Acacia Research from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Craig Hallum raised their price target on Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Acacia Research Price Performance

Shares of NASDAQ:ACTG opened at $5.07 on Wednesday. The company has a market cap of $507.10 million, a P/E ratio of 14.08 and a beta of 0.54. The company has a quick ratio of 21.02, a current ratio of 21.40 and a debt-to-equity ratio of 0.02. Acacia Research has a 52 week low of $3.43 and a 52 week high of $5.74. The business has a fifty day simple moving average of $5.21 and a 200-day simple moving average of $4.63.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Acacia Research

A number of institutional investors have recently added to or reduced their stakes in ACTG. Krilogy Financial LLC grew its position in Acacia Research by 74.1% during the first quarter. Krilogy Financial LLC now owns 470,000 shares of the business services provider’s stock valued at $2,505,000 after acquiring an additional 200,000 shares during the period. Quadrature Capital Ltd purchased a new stake in Acacia Research during the first quarter valued at about $439,000. Elkhorn Partners Limited Partnership grew its position in Acacia Research by 186.6% during the first quarter. Elkhorn Partners Limited Partnership now owns 92,000 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 59,900 shares during the period. Toroso Investments LLC grew its position in Acacia Research by 8.5% during the third quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock valued at $2,023,000 after acquiring an additional 43,361 shares during the period. Finally, Salem Investment Counselors Inc. purchased a new stake in Acacia Research during the first quarter valued at about $153,000. Hedge funds and other institutional investors own 86.69% of the company’s stock.

About Acacia Research

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.