Acacia Research (NASDAQ:ACTG) Stock Price Passes Above Two Hundred Day Moving Average of $4.46

Acacia Research Co. (NASDAQ:ACTGGet Rating)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.46 and traded as high as $4.86. Acacia Research shares last traded at $4.82, with a volume of 698,050 shares.

Separately, StockNews.com upgraded shares of Acacia Research from a “sell” rating to a “hold” rating in a research report on Friday, April 8th.

The firm’s 50-day moving average is $4.54 and its 200 day moving average is $4.46. The stock has a market cap of $220.80 million, a PE ratio of -68.85 and a beta of 0.44.

Acacia Research (NASDAQ:ACTGGet Rating) last released its quarterly earnings results on Thursday, March 31st. The business services provider reported $0.10 EPS for the quarter. Acacia Research had a net margin of 251.22% and a return on equity of 15.66%. The firm had revenue of $63.26 million during the quarter.

A number of hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Acacia Research by 10.5% in the 3rd quarter. Invesco Ltd. now owns 2,859,799 shares of the business services provider’s stock valued at $19,418,000 after purchasing an additional 270,788 shares during the last quarter. Vanguard Group Inc. raised its position in Acacia Research by 8.7% during the 1st quarter. Vanguard Group Inc. now owns 2,536,626 shares of the business services provider’s stock worth $11,440,000 after buying an additional 203,300 shares during the last quarter. Formidable Asset Management LLC raised its position in Acacia Research by 23.8% during the 1st quarter. Formidable Asset Management LLC now owns 1,948,076 shares of the business services provider’s stock worth $8,786,000 after buying an additional 374,623 shares during the last quarter. CWM LLC purchased a new position in Acacia Research during the 4th quarter worth $3,435,000. Finally, Toroso Investments LLC raised its position in Acacia Research by 39.3% during the 1st quarter. Toroso Investments LLC now owns 385,979 shares of the business services provider’s stock worth $1,741,000 after buying an additional 108,974 shares during the last quarter. Hedge funds and other institutional investors own 63.02% of the company’s stock.

Acacia Research Company Profile (NASDAQ:ACTG)

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 two segments, Intellectual Property Operations and Industrial Operations.

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