Cerity Partners LLC Invests $518,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Cerity Partners LLC acquired a new stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,130 shares of the company's stock, valued at approximately $518,000.

A number of other hedge funds have also made changes to their positions in the stock. Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet in the 3rd quarter valued at $40,000. Prospera Private Wealth LLC purchased a new position in shares of Acushnet during the 3rd quarter valued at $41,000. nVerses Capital LLC acquired a new position in Acushnet in the 3rd quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Acushnet by 1,719.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company's stock valued at $78,000 after buying an additional 1,152 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Acushnet in the second quarter worth approximately $83,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Price Performance

GOLF traded down $0.56 during midday trading on Friday, reaching $74.21. 233,672 shares of the company's stock were exchanged, compared to its average volume of 287,410. Acushnet Holdings Corp. has a one year low of $56.34 and a one year high of $76.38. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 25.24 and a beta of 0.88. The business has a 50-day simple moving average of $66.60 and a two-hundred day simple moving average of $65.94. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $620.40 million. During the same quarter in the previous year, the company earned $0.85 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.16%. Acushnet's dividend payout ratio (DPR) is 29.25%.

Insiders Place Their Bets

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares of the company's stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jefferies Financial Group cut Acushnet from a "buy" rating to a "hold" rating and reduced their price target for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Truist Financial boosted their target price on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Acushnet has an average rating of "Hold" and an average target price of $71.40.

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.