Janus Henderson Group PLC Boosts Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Janus Henderson Group PLC grew its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 28.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,747 shares of the company's stock after buying an additional 9,751 shares during the quarter. Janus Henderson Group PLC owned 0.07% of Acushnet worth $2,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brown Lisle Cummings Inc. purchased a new stake in Acushnet in the 3rd quarter valued at about $40,000. Prospera Private Wealth LLC bought a new stake in shares of Acushnet during the third quarter valued at approximately $41,000. nVerses Capital LLC purchased a new stake in shares of Acushnet in the third quarter valued at approximately $57,000. Whittier Trust Co. of Nevada Inc. grew its stake in Acushnet by 1,719.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company's stock worth $78,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Acushnet in the second quarter worth approximately $83,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares of the company's stock, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GOLF shares. Truist Financial increased their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Jefferies Financial Group cut Acushnet from a "buy" rating to a "hold" rating and dropped their target price for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Acushnet presently has a consensus rating of "Hold" and an average price target of $71.40.

Acushnet Stock Performance

NYSE:GOLF traded down $2.15 during trading hours on Thursday, reaching $73.37. The company had a trading volume of 270,412 shares, compared to its average volume of 308,456. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a 1-year low of $57.74 and a 1-year high of $76.59. The business's 50 day moving average price is $67.58 and its 200-day moving average price is $66.23. The firm has a market cap of $4.46 billion, a PE ratio of 24.96 and a beta of 0.88.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million during the quarter, compared to analysts' expectations of $620.40 million. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.17%. Acushnet's dividend payout ratio (DPR) is presently 29.25%.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.