NEW YORK (

TheStreet

) --

Acacia Research Coroporation

(Nasdaq:

ACTG

) hit a new 52-week high Thursday as it is currently trading at $40.05, above its previous 52-week high of $39.04 with 366,891 shares traded as of 11:01 a.m. ET. Average volume has been 476,600 shares over the past 30 days.

Acacia Research Coroporation has a market cap of $1.4 billion and is part of the

services

sector and

diversified services

industry. Shares are up 50.5% year to date as of the close of trading on Wednesday.

TheStreet Recommends

Acacia Research Corporation, through its subsidiaries, acquires, develops, licenses, and enforces patented technologies in the United States. The company has a P/E ratio of 51, below the average diversified services industry P/E ratio of 51.7 and above the S&P 500 P/E ratio of 16.9.

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TheStreet Ratings rates Acacia Research Coroporation as a

buy

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, robust revenue growth, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Acacia Research Coroporation Ratings Report

.

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