GSA Capital Partners LLP Purchases New Stake in Acushnet Holdings Corp. (NYSE:GOLF)

GSA Capital Partners LLP bought a new stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,254 shares of the company's stock, valued at approximately $654,000.

Other institutional investors and hedge funds have also modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in shares of Acushnet during the 1st quarter worth about $27,000. Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet in the third quarter valued at $40,000. nVerses Capital LLC acquired a new position in shares of Acushnet in the 3rd quarter valued at $57,000. Whittier Trust Co. of Nevada Inc. lifted its position 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 worth $78,000 after buying an additional 1,152 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Acushnet in the 2nd quarter valued at $83,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOLF. Truist Financial increased their price objective on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded shares of Acushnet from a "buy" rating to a "hold" rating and cut their price target 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 given a buy rating to the stock. Based on data from MarketBeat, Acushnet has a consensus rating of "Hold" and a consensus price target of $71.40.

Acushnet Stock Up 1.2 %

Shares of NYSE:GOLF traded up $0.79 during trading on Tuesday, hitting $69.21. 185,166 shares of the company were exchanged, compared to its average volume of 312,845. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 23.27 and a beta of 0.85. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a fifty-two week low of $55.74 and a fifty-two week high of $76.38. The firm has a fifty day moving average price of $64.05 and a two-hundred day moving average price of $65.00.

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

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.24%. Acushnet's dividend payout ratio (DPR) is presently 29.25%.

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.