Aigen Investment Management LP Invests $722,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Aigen Investment Management LP bought a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,161 shares of the company's stock, valued at approximately $722,000.

A number of other hedge funds also recently added to or reduced their stakes in GOLF. US Bancorp DE lifted its holdings in Acushnet by 8.2% during the 3rd quarter. US Bancorp DE now owns 9,897 shares of the company's stock worth $631,000 after buying an additional 753 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Acushnet by 9.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,078 shares of the company's stock valued at $387,000 after purchasing an additional 535 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after purchasing an additional 63,294 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of Acushnet in the 3rd quarter valued at $232,000. Finally, Atria Investments Inc raised its holdings in shares of Acushnet by 7.5% in the 3rd quarter. Atria Investments Inc now owns 23,622 shares of the company's stock valued at $1,506,000 after purchasing an additional 1,650 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Performance

GOLF traded down $0.20 on Friday, reaching $68.40. The company had a trading volume of 568,021 shares, compared to its average volume of 340,576. Acushnet Holdings Corp. has a 1 year low of $58.54 and a 1 year high of $76.65. The stock has a market capitalization of $4.10 billion, a PE ratio of 23.27 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $68.51 and a 200-day moving average price of $67.61.

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Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. As a group, research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.37%. Acushnet's payout ratio is currently 28.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday. KeyCorp reduced their price objective on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $72.80.

Acushnet 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.