Acacia Research Co. (NASDAQ:ACTG) Short Interest Up 18.8% in April

Acacia Research Co. (NASDAQ:ACTG) was the recipient 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.

Analyst Upgrades and Downgrades

ACTG has been the subject of a number of analyst reports. Craig Hallum boosted their price target on Acacia Research from $6.00 to $7.00 and gave the stock a “buy” rating in a research 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACTG. Formidable Asset Management LLC increased its position in Acacia Research by 1.6% in the 3rd 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. Roumell Asset Management LLC boosted 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 in the last quarter. Toroso Investments LLC boosted its stake in shares of Acacia Research by 8.5% during the 3rd quarter. Toroso Investments LLC now owns 554,362 shares of the business services provider’s stock worth $2,023,000 after acquiring an additional 43,361 shares in the last quarter. Krilogy Financial LLC boosted its stake in Acacia Research by 74.1% during the 1st quarter. Krilogy Financial LLC now owns 470,000 shares of the business services provider’s stock valued at $2,505,000 after purchasing an additional 200,000 shares during the period. Finally, Levin Capital Strategies L.P. boosted its stake in Acacia Research by 634.2% during the 3rd 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 during the period. 86.69% of the stock is owned by institutional investors and hedge funds.

Acacia Research Stock Up 0.4 %

Shares of Acacia Research stock opened at $4.89 on Tuesday. The stock’s fifty day moving average is $4.70 and its 200-day moving average is $4.13. The firm has a market capitalization of $489.10 million, a PE ratio of 16.86 and a beta of 0.46. The company has a quick ratio of 19.67, a current ratio of 20.07 and a debt-to-equity ratio of 0.02. Acacia Research has a 12-month low of $3.43 and a 12-month high of $5.47.

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

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.