Acacia Research (ACTG) Cut to “Hold” at ValuEngine

Acacia Research (NASDAQ:ACTG) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

ACTG has been the topic of a number of other research reports. Zacks Investment Research downgraded Acacia Research from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. TheStreet raised Acacia Research from a “d” rating to a “c-” rating in a report on Thursday, October 26th. Finally, Barclays reissued a “sell” rating and issued a $5.00 target price on shares of Acacia Research in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Acacia Research has a consensus rating of “Hold” and a consensus price target of $6.50.

Acacia Research (NASDAQ:ACTG) traded down $0.12 during mid-day trading on Friday, reaching $4.05. The company’s stock had a trading volume of 833,130 shares, compared to its average volume of 236,640. Acacia Research has a 52 week low of $2.90 and a 52 week high of $7.20. The company has a market capitalization of $204.95, a P/E ratio of 1.69 and a beta of 1.19.

Hedge funds have recently bought and sold shares of the business. B. Riley Financial Inc. purchased a new stake in Acacia Research in the third quarter worth about $1,428,000. Dimensional Fund Advisors LP increased its position in Acacia Research by 31.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,180,057 shares of the business services provider’s stock worth $4,839,000 after buying an additional 279,540 shares in the last quarter. Osmium Partners LLC purchased a new stake in Acacia Research in the second quarter worth about $764,000. Schwab Charles Investment Management Inc. increased its position in Acacia Research by 181.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 262,463 shares of the business services provider’s stock worth $1,195,000 after buying an additional 169,227 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Acacia Research by 7.0% in the second quarter. Vanguard Group Inc. now owns 2,038,565 shares of the business services provider’s stock worth $8,358,000 after buying an additional 134,030 shares in the last quarter. 67.09% of the stock is currently owned by institutional investors.

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About Acacia Research

Acacia Research Corporation, through its subsidiaries, invests in, licenses and enforces patented technologies. The Company’s operating subsidiaries partner with inventors and patent owners, applying their legal and technology expertise to patent assets to unlock the financial value in their patented inventions.

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