Acacia Research (NASDAQ:ACTG) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of 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 $4.36 and traded as high as $4.86. Acacia Research shares last traded at $4.86, with a volume of 256,391 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACTG. Wall Street Zen cut Acacia Research from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Craig Hallum raised their price objective on Acacia Research from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings lowered Acacia Research from a “hold (c-)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.00.

Acacia Research Trading Up 3.2%

The company has a market cap of $469.43 million, a price-to-earnings ratio of -27.00 and a beta of 0.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 8.09 and a current ratio of 8.56. The business’s 50 day moving average price is $4.78 and its 200-day moving average price is $4.36.

Acacia Research (NASDAQ:ACTG) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.07) EPS for the quarter, topping 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 company had revenue of $54.24 million during the quarter, compared to the consensus estimate of $50.00 million. During the same period last year, the firm earned $0.25 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its holdings in Acacia Research by 28.5% during the first quarter. NewEdge Advisors LLC now owns 42,129 shares of the business services provider’s stock valued at $203,000 after purchasing an additional 9,351 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Acacia Research by 16.6% in the 1st quarter. Bank of America Corp DE now owns 33,319 shares of the business services provider’s stock worth $160,000 after buying an additional 4,746 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Acacia Research by 39.1% during the 1st quarter. Empowered Funds LLC now owns 340,210 shares of the business services provider’s stock worth $1,636,000 after buying an additional 95,624 shares during the period. Quantinno Capital Management LP bought a new position in shares of Acacia Research during the 1st quarter worth approximately $215,000. Finally, Renaissance Technologies LLC lifted its position in shares of Acacia Research by 0.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,407,584 shares of the business services provider’s stock worth $6,770,000 after buying an additional 12,284 shares during the period. 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.