Acacia Research Co. (NASDAQ:ACTG) Sees Significant Increase in Short Interest

Acacia Research Co. (NASDAQ:ACTG) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 743,600 shares, an increase of 18.8% from the March 31st total of 625,900 shares. Based on an average daily trading volume, of 236,600 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACTG. Levin Capital Strategies L.P. lifted its position in Acacia Research by 634.2% during the third quarter. Levin Capital Strategies L.P. now owns 367,119 shares of the business services provider’s stock valued at $1,340,000 after purchasing an additional 317,119 shares in the last quarter. Toroso Investments LLC raised its holdings in shares of Acacia Research by 8.5% in the third quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock worth $2,023,000 after buying an additional 43,361 shares during the period. Roumell Asset Management LLC lifted its stake in shares of Acacia Research by 22.2% during the 3rd quarter. Roumell Asset Management LLC now owns 727,463 shares of the business services provider’s stock worth $2,655,000 after acquiring an additional 132,112 shares during the last quarter. Victory Capital Management Inc. purchased a new position in Acacia Research during the 3rd quarter valued at $39,000. Finally, Formidable Asset Management LLC grew its holdings in shares of Acacia Research by 1.6% in the third quarter. Formidable Asset Management LLC now owns 1,755,935 shares of the business services provider’s stock worth $6,409,000 after purchasing an additional 27,078 shares during the last quarter. 86.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Acacia Research Stock Performance

NASDAQ:ACTG opened at $4.87 on Monday. The business has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $4.12. The company has a market capitalization of $487.11 million, a P/E ratio of 16.79 and a beta of 0.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.07 and a quick ratio of 19.67. Acacia Research has a 1 year low of $3.43 and a 1 year high of $5.47.

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

About Acacia Research

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.