Acacia Research Corporation (NASDAQ:ACTG) Shorts Decreased by 11.59% After Short Covering


The stock of Acacia Research Corporation (NASDAQ:ACTG) registered a decrease of 11.59% in short interest. ACTG’s total short interest was 1.87M shares in September as published by FINRA. Its down 11.59% from 2.12 million shares, reported previously. With 521,900 shares average volume, it will take short sellers 4 days to cover their ACTG’s short positions. The short interest to Acacia Research Corporation’s float is 3.88%. About 417,395 shares traded hands. Acacia Research Corp (NASDAQ:ACTG) has risen 75.48% since February 8, 2016 and is uptrending. It has outperformed by 58.99% the S&P500.

Acacia Research Corporation, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The company has a market cap of $308.17 million. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. It currently has negative earnings. The Firm operates in patent licensing and enforcement business segment.

The institutional sentiment decreased to 0.65 in Q2 2016. Its down 0.55, from 1.2 in 2016Q1. The ratio dropped, as 12 funds sold all Acacia Research Corp shares owned while 39 reduced positions. 14 funds bought stakes while 19 increased positions. They now own 34.15 million shares or 17.09% less from 41.19 million shares in 2016Q1.

Heartland Advisors Inc holds 1.46% of its portfolio in Acacia Research Corp for 5.89 million shares. Pacific Ridge Capital Partners Llc owns 723,480 shares or 1.44% of their US portfolio. Moreover, Manatuck Hill Partners Llc has 1.07% invested in the company for 550,000 shares. The Nebraska-based Cwm Llc has invested 0.97% in the stock. Snow Capital Management Lp, a Pennsylvania-based fund reported 1.73 million shares.

Out of 3 analysts covering Acacia Research (NASDAQ:ACTG), 2 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 67% are positive. Acacia Research has been the topic of 5 analyst reports since December 22, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock on July 29 with “Underweight” rating.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Reply