International Assets Investment Management LLC Buys Shares of 125,269 Acushnet Holdings Corp. (NYSE:GOLF)

International Assets Investment Management LLC bought a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 125,269 shares of the company's stock, valued at approximately $7,986,000. International Assets Investment Management LLC owned approximately 0.20% of Acushnet at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GOLF. New Covenant Trust Company N.A. purchased a new stake in shares of Acushnet in the 1st quarter worth about $27,000. Brown Lisle Cummings Inc. purchased a new position in Acushnet during the third quarter valued at $40,000. nVerses Capital LLC bought a new stake in Acushnet in the third quarter worth $57,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 acquiring an additional 1,152 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Acushnet during the second quarter valued at $83,000. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

Shares of GOLF traded up $0.57 during trading hours on Friday, hitting $61.87. The stock had a trading volume of 224,390 shares, compared to its average volume of 307,897. Acushnet Holdings Corp. has a 12 month low of $51.49 and a 12 month high of $74.77. The stock has a fifty day moving average price of $63.87 and a 200 day moving average price of $64.53. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The firm has a market capitalization of $3.82 billion, a PE ratio of 21.10 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. Acushnet's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet's payout ratio is 29.66%.

Analyst Upgrades and Downgrades

GOLF has been the topic of several recent analyst reports. 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 research report on Tuesday, September 17th. Compass Point reduced their target price on Acushnet from $78.00 to $76.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial boosted their price target on 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 stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and an average target price of $67.43.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.60% of the stock is currently owned by company insiders.

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.