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

Acacia Research Co. (NASDAQ:ACTG) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,070,000 shares, an increase of 17.5% from the September 15th total of 910,600 shares. Based on an average daily volume of 338,200 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Acacia Research from a “hold” rating to a “sell” rating in a research note on Friday, October 11th.

Acacia Research Stock Performance

Acacia Research stock opened at $4.52 on Wednesday. The firm has a market capitalization of $452.10 million, a P/E ratio of 12.56 and a beta of 0.52. The stock has a fifty day moving average price of $4.67 and a two-hundred day moving average price of $5.02. Acacia Research has a 52-week low of $3.43 and a 52-week high of $5.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 11.17 and a quick ratio of 10.90.

Acacia Research (NASDAQ:ACTG) last announced its earnings results on Thursday, August 8th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter. Acacia Research had a return on equity of 12.00% and a net margin of 44.42%. The firm had revenue of $25.84 million for the quarter.

Institutional Trading of Acacia Research

Several hedge funds have recently modified their holdings of ACTG. Innealta Capital LLC acquired a new stake in shares of Acacia Research in the second quarter valued at $43,000. The Manufacturers Life Insurance Company bought a new stake in Acacia Research during the 2nd quarter worth about $83,000. Victory Capital Management Inc. increased its position in Acacia Research by 36.0% in the 2nd quarter. Victory Capital Management Inc. now owns 17,513 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 4,638 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Acacia Research in the first quarter worth about $136,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Acacia Research by 146.4% during the first quarter. BNP Paribas Financial Markets now owns 28,165 shares of the business services provider’s stock worth $150,000 after purchasing an additional 16,735 shares in the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.

About Acacia Research

Acacia is a publicly traded (Nasdaq: ACTG) company that is focused on acquiring and operating businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon.