Tidal Investments LLC acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,972 shares of the company's stock, valued at approximately $508,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company's stock valued at $62,948,000 after acquiring an additional 889,515 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Acushnet by 702.1% in the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock valued at $32,430,000 after acquiring an additional 445,281 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Acushnet by 258.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company's stock valued at $16,970,000 after acquiring an additional 192,034 shares during the period. Eagle Asset Management Inc. boosted its holdings in Acushnet by 133.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company's stock valued at $19,059,000 after acquiring an additional 170,668 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Acushnet during the 3rd quarter worth approximately $7,986,000. Hedge funds and other institutional investors own 53.12% of the company's stock.
Analyst Ratings Changes
Several analysts have weighed in on GOLF shares. Truist Financial boosted 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. Jefferies Financial Group lowered shares of Acushnet from a "buy" rating to a "hold" rating and cut their price target for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $71.40.
Read Our Latest Report on Acushnet
Insider Transactions at Acushnet
In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now directly owns 88,710 shares of the company's stock, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 54.60% of the company's stock.
Acushnet Trading Up 0.8 %
GOLF stock traded up $0.53 on Monday, reaching $70.45. The company's stock had a trading volume of 252,793 shares, compared to its average volume of 309,417. 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 business has a fifty day simple moving average of $68.70 and a two-hundred day simple moving average of $66.57. The firm has a market cap of $4.28 billion, a PE ratio of 23.96 and a beta of 0.88. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.59.
Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.10. The firm had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.
Acushnet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet's dividend payout ratio (DPR) is presently 29.25%.
Acushnet Company Profile
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Free Report)
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.
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