Point72 Asset Management L.P. Has $16.97 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Point72 Asset Management L.P. increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 258.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,200 shares of the company's stock after purchasing an additional 192,034 shares during the period. Point72 Asset Management L.P. owned approximately 0.44% of Acushnet worth $16,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. acquired a new stake in shares of Acushnet in the 3rd quarter valued at $40,000. Prospera Private Wealth LLC acquired a new position in Acushnet in the third quarter valued at about $41,000. nVerses Capital LLC bought a new stake in Acushnet during the third quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Acushnet by 1,719.4% during the third 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 in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Acushnet in the second quarter valued at approximately $83,000. Institutional investors own 53.12% of the company's stock.

Wall Street Analyst Weigh In

GOLF has been the topic of a number of research analyst reports. Truist Financial increased their price target on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Jefferies Financial Group lowered Acushnet from a "buy" rating to a "hold" rating and lowered their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $71.40.

Acushnet Trading Down 0.7 %

GOLF traded down $0.56 during mid-day trading on Friday, reaching $74.21. The stock had a trading volume of 233,672 shares, compared to its average volume of 287,410. The stock has a market capitalization of $4.51 billion, a P/E ratio of 25.24 and a beta of 0.88. Acushnet Holdings Corp. has a 52 week low of $56.34 and a 52 week high of $76.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The firm's fifty day simple moving average is $66.60 and its two-hundred day simple moving average is $65.90.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $620.40 million. During the same period last year, the company earned $0.85 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. On average, equities analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.16%. Acushnet's payout ratio is presently 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 dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares of the company's stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 54.60% of the company's stock.

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.