ValuEngine Upgrades Acacia Research (NASDAQ:ACTG) to Hold

Acacia Research (NASDAQ:ACTG) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, February 4th.

Shares of ACTG stock remained flat at $$3.05 on Monday. The company had a trading volume of 65,548 shares, compared to its average volume of 73,785. Acacia Research has a 52-week low of $2.75 and a 52-week high of $4.40.

In other Acacia Research news, Director Alfred Victor Jr. Tobia acquired 15,000 shares of the stock in a transaction dated Wednesday, December 19th. The stock was acquired at an average cost of $2.94 per share, with a total value of $44,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 34,654 shares of company stock valued at $104,062. Insiders own 11.04% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ACTG. Schwab Charles Investment Management Inc. raised its stake in Acacia Research by 18.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 256,761 shares of the business services provider’s stock valued at $1,066,000 after acquiring an additional 40,007 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Acacia Research by 99.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,459,639 shares of the business services provider’s stock worth $4,671,000 after buying an additional 729,381 shares in the last quarter. Leisure Capital Management purchased a new position in shares of Acacia Research during the 3rd quarter worth approximately $104,000. PEAK6 Investments LLC purchased a new position in shares of Acacia Research during the 3rd quarter worth approximately $223,000. Finally, AQR Capital Management LLC raised its stake in shares of Acacia Research by 21.9% during the 3rd quarter. AQR Capital Management LLC now owns 185,529 shares of the business services provider’s stock worth $594,000 after buying an additional 33,300 shares in the last quarter. 62.29% of the stock is owned by hedge funds and other institutional investors.

Acacia Research Company Profile

Acacia Research Corporation, together with its subsidiaries, invests in, licenses, and enforces patented technologies. It assists patent owners with the prosecution and development of their patent portfolios; protection of their patented inventions from unauthorized use; generation of licensing revenue from users of their patented technologies; and enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation.

Further Reading: How to Trade Using Analysts Ratings

To view ValuEngine’s full report, visit ValuEngine’s official website.

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