Semanteon Capital Management LP Acquires Shares of 9,378 Acushnet Holdings Corp. (NYSE:GOLF)

Semanteon Capital Management LP bought a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,378 shares of the company's stock, valued at approximately $598,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GOLF. Vanguard Group Inc. grew its position in shares of Acushnet by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company's stock worth $198,530,000 after buying an additional 15,088 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company's stock worth $62,948,000 after purchasing an additional 889,515 shares during the last quarter. Raymond James & Associates increased its position in shares of Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company's stock worth $29,714,000 after purchasing an additional 4,300 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Acushnet by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 266,374 shares of the company's stock valued at $16,909,000 after purchasing an additional 791 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Acushnet by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company's stock worth $15,264,000 after purchasing an additional 4,644 shares in the last quarter. Institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

Shares of NYSE:GOLF traded up $0.90 during trading on Tuesday, hitting $61.16. The stock had a trading volume of 419,452 shares, compared to its average volume of 307,028. The stock has a 50-day simple moving average of $64.18 and a two-hundred day simple moving average of $64.57. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 21.24 and a beta of 0.84. Acushnet Holdings Corp. has a 12-month low of $49.42 and a 12-month high of $74.77. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The business had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, equities research analysts expect that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.41%. Acushnet's payout ratio is currently 29.86%.

Insider Activity

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the sale, the director now owns 31,412,966 shares of the company's stock, valued at $2,016,398,287.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOLF. Compass Point reduced their target price on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a "buy" rating to a "hold" rating and cut their price objective for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial lifted their target price on shares of Acushnet from $63.00 to $65.00 and gave the stock a "hold" rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Acushnet presently has a consensus rating of "Hold" and a consensus target price of $67.43.

About Acushnet

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.