Acacia Research (NASDAQ:ACTG) Shares Cross Above 200-Day Moving Average – Time to Sell?

Shares of Acacia Research Corporation (NASDAQ:ACTG) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.55 and traded as high as $3.84. Acacia Research shares last traded at $3.81, with a volume of 120,519 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on ACTG shares. Wall Street Zen raised Acacia Research from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Acacia Research in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Acacia Research Price Performance

The business’s fifty day simple moving average is $3.73 and its 200-day simple moving average is $3.55. The company has a current ratio of 8.63, a quick ratio of 8.11 and a debt-to-equity ratio of 0.16. The firm has a market cap of $379.09 million, a P/E ratio of 78.62 and a beta of 0.48.

Acacia Research (NASDAQ:ACTG) last posted its quarterly earnings results on Wednesday, November 5th. The business services provider reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.13. Acacia Research had a return on equity of 2.45% and a net margin of 1.70%.The firm had revenue of $59.45 million during the quarter, compared to analyst estimates of $38.00 million.

Institutional Investors Weigh In On Acacia Research

A number of institutional investors and hedge funds have recently modified their holdings of the company. Levin Capital Strategies L.P. raised its holdings in shares of Acacia Research by 195.0% in the 3rd quarter. Levin Capital Strategies L.P. now owns 889,547 shares of the business services provider’s stock valued at $2,891,000 after acquiring an additional 587,973 shares in the last quarter. Permanent Capital Management LP bought a new position in shares of Acacia Research in the third quarter worth approximately $1,317,000. Peapod Lane Capital LLC raised its stake in Acacia Research by 65.0% in the second quarter. Peapod Lane Capital LLC now owns 718,192 shares of the business services provider’s stock valued at $2,571,000 after purchasing an additional 282,913 shares in the last quarter. Marshall Wace LLP bought a new stake in Acacia Research during the second quarter valued at approximately $614,000. Finally, Marquette Asset Management LLC purchased a new position in Acacia Research in the 4th quarter worth approximately $349,000. 86.69% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Company Profile

Acacia Research Corporation is a publicly traded patent licensing company based in New York City. The firm specializes in acquiring patented technologies through a network of wholly owned subsidiaries and seeking licensing agreements or settlements with companies that utilize those technologies. Since its founding in 1993, Acacia has built a business model centered on identifying innovative inventions and monetizing them through patent enforcement and strategic partnerships.

The company’s activities span a broad range of technology sectors, including life sciences, medical devices, software, telecommunications and consumer electronics.