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

Acacia Research Co. (NASDAQ:ACTG) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 625,900 shares, a drop of 10.3% from the March 15th total of 698,000 shares. Based on an average trading volume of 226,300 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

ACTG has been the topic of several recent research reports. StockNews.com raised Acacia Research from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Craig Hallum raised their price objective on Acacia Research from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Acacia Research Trading Down 0.4 %

NASDAQ ACTG opened at $4.93 on Wednesday. The company has a quick ratio of 19.67, a current ratio of 20.07 and a debt-to-equity ratio of 0.02. Acacia Research has a twelve month low of $3.43 and a twelve month high of $5.47. The company has a market cap of $492.46 million, a price-to-earnings ratio of 17.00 and a beta of 0.46. The business’s fifty day moving average is $4.57 and its 200 day moving average is $4.05.

Acacia Research (NASDAQ:ACTG) last announced its earnings results on Thursday, March 14th. The business services provider reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $92.31 million during the quarter. Acacia Research had a return on equity of 11.47% and a net margin of 48.92%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Acacia Research by 0.3% during the 1st quarter. BlackRock Inc. now owns 927,099 shares of the business services provider’s stock worth $3,579,000 after purchasing an additional 2,601 shares during the last quarter. FMR LLC raised its position in shares of Acacia Research by 6.0% in the 2nd quarter. FMR LLC now owns 65,503 shares of the business services provider’s stock worth $330,000 after acquiring an additional 3,704 shares in the last quarter. UBS Group AG raised its position in shares of Acacia Research by 218.4% in the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock worth $29,000 after acquiring an additional 5,040 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Acacia Research by 41.9% in the 4th quarter. SG Americas Securities LLC now owns 23,244 shares of the business services provider’s stock worth $91,000 after acquiring an additional 6,866 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Acacia Research in the 3rd quarter worth about $39,000. 86.69% of the stock is owned by institutional investors.

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.