Acacia Research (NASDAQ:ACTG) Stock Rating Upgraded by StockNews.com

Acacia Research (NASDAQ:ACTGGet Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other equities analysts have also commented on the stock. Craig Hallum raised their target price on shares of Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. TheStreet raised shares of Acacia Research from a “d+” rating to a “c-” rating in a research report on Monday, December 4th.

Check Out Our Latest Research Report on ACTG

Acacia Research Price Performance

Acacia Research stock opened at $5.05 on Monday. The firm has a market capitalization of $504.44 million, a P/E ratio of 17.41 and a beta of 0.43. The company’s 50-day moving average is $4.05 and its 200 day moving average is $3.82. Acacia Research has a 1-year low of $3.43 and a 1-year high of $5.11.

Hedge Funds Weigh In On Acacia Research

Several institutional investors and hedge funds have recently bought and sold shares of the company. Starboard Value LP purchased a new position in Acacia Research in the fourth quarter worth $21,050,000. BlackRock Inc. grew its holdings in Acacia Research by 188.9% in the second quarter. BlackRock Inc. now owns 2,678,779 shares of the business services provider’s stock worth $11,144,000 after purchasing an additional 1,751,680 shares during the last quarter. State Street Corp grew its holdings in Acacia Research by 287.8% in the second quarter. State Street Corp now owns 1,220,940 shares of the business services provider’s stock worth $5,079,000 after purchasing an additional 906,112 shares during the last quarter. Geode Capital Management LLC grew its holdings in Acacia Research by 132.8% in the second quarter. Geode Capital Management LLC now owns 986,154 shares of the business services provider’s stock worth $4,102,000 after purchasing an additional 562,574 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Acacia Research by 706.7% in the second quarter. Millennium Management LLC now owns 607,627 shares of the business services provider’s stock worth $3,062,000 after purchasing an additional 532,301 shares during the last quarter. 44.87% of the stock is owned by hedge funds and other institutional investors.

About Acacia Research

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Acacia Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acacia Research and related companies with MarketBeat.com's FREE daily email newsletter.