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Acacia Research Co. (NASDAQ:ACTG – Get Rating) saw a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 529,200 shares, a growth of 8.2% from the December 15th total of 489,100 shares. Based on an average trading volume of 327,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.3% of the shares of the company are short sold.
Hedge Funds Weigh In On Acacia Research
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Hedge funds have recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in shares of Acacia Research in the first quarter valued at $27,000. UBS Group AG increased its holdings in Acacia Research by 218.4% in the third quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock valued at $29,000 after buying an additional 5,040 shares during the last quarter. Horizon Wealth Management LLC bought a new stake in Acacia Research in the second quarter valued at about $50,000. Tudor Investment Corp Et Al bought a new stake in Acacia Research in the third quarter valued at about $54,000. Finally, Walleye Capital LLC bought a new position in shares of Acacia Research during the second quarter valued at approximately $73,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on ACTG. StockNews.com began coverage on Acacia Research in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Craig Hallum reduced their price target on Acacia Research to $7.00 in a report on Wednesday, November 16th.
Acacia Research Price Performance
ACTG opened at $4.23 on Friday. Acacia Research has a 12 month low of $3.30 and a 12 month high of $5.30. The stock has a market capitalization of $162.03 million, a P/E ratio of -1.64 and a beta of 0.40. The business has a 50 day simple moving average of $3.99 and a 200-day simple moving average of $4.24.
Acacia Research (NASDAQ:ACTG – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The business services provider reported ($0.44) earnings per share for the quarter. Acacia Research had a net margin of 89.63% and a return on equity of 7.16%. The firm had revenue of $15.88 million during the quarter.
Acacia Research Company Profile
(Get Rating)
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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