Acacia Research (NASDAQ:ACTG) Stock Price Crosses Above 200-Day Moving Average of $4.02

Acacia Research Co. (NASDAQ:ACTG)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.02 and traded as high as $5.15. Acacia Research shares last traded at $5.02, with a volume of 126,738 shares changing hands.

Analysts Set New Price Targets

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

Acacia Research Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 20.07 and a quick ratio of 19.67. The company has a market capitalization of $501.45 million, a PE ratio of 17.31 and a beta of 0.46. The firm has a 50-day moving average of $4.53 and a 200 day moving average of $4.02.

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

Institutional Investors Weigh In On Acacia Research

Several institutional investors have recently modified their holdings of ACTG. Vanguard Group Inc. boosted its position in shares of Acacia Research by 8.7% during the first quarter. Vanguard Group Inc. now owns 2,536,626 shares of the business services provider’s stock valued at $11,440,000 after buying an additional 203,300 shares during the last quarter. Invesco Ltd. boosted its position in Acacia Research by 1.8% in the first quarter. Invesco Ltd. now owns 2,637,106 shares of the business services provider’s stock worth $11,894,000 after purchasing an additional 45,697 shares during the last quarter. Toroso Investments LLC boosted its position in Acacia Research by 39.3% in the first quarter. Toroso Investments LLC now owns 385,979 shares of the business services provider’s stock worth $1,741,000 after purchasing an additional 108,974 shares during the last quarter. FMR LLC boosted its position in Acacia Research by 6.0% in the second quarter. FMR LLC now owns 65,503 shares of the business services provider’s stock worth $330,000 after purchasing an additional 3,704 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Acacia Research by 0.7% in the second quarter. Renaissance Technologies LLC now owns 1,995,698 shares of the business services provider’s stock worth $10,058,000 after purchasing an additional 14,798 shares during the last quarter. 86.69% of the stock is owned by hedge funds and other 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.