B. Riley Wealth Advisors Inc. Has $244,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

B. Riley Wealth Advisors Inc. lowered its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 40.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,855 shares of the company’s stock after selling 2,616 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Acushnet were worth $244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Deutsche Bank AG lifted its stake in Acushnet by 2.3% in the third quarter. Deutsche Bank AG now owns 17,769 shares of the company’s stock valued at $942,000 after buying an additional 399 shares during the period. Rhumbline Advisers lifted its stake in Acushnet by 1.9% in the third quarter. Rhumbline Advisers now owns 47,906 shares of the company’s stock valued at $2,541,000 after buying an additional 911 shares during the period. PNC Financial Services Group Inc. lifted its stake in Acushnet by 8.9% in the third quarter. PNC Financial Services Group Inc. now owns 10,746 shares of the company’s stock valued at $570,000 after buying an additional 876 shares during the period. Envestnet Asset Management Inc. lifted its stake in Acushnet by 107.5% in the third quarter. Envestnet Asset Management Inc. now owns 95,923 shares of the company’s stock valued at $5,088,000 after buying an additional 49,706 shares during the period. Finally, FMR LLC lifted its stake in Acushnet by 1.7% in the third quarter. FMR LLC now owns 356,913 shares of the company’s stock valued at $18,931,000 after buying an additional 5,909 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOLF. JPMorgan Chase & Co. increased their price target on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Truist Financial lifted their price target on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.38.

Acushnet Stock Down 0.3 %

Shares of GOLF opened at $65.05 on Friday. The company has a market capitalization of $4.10 billion, a PE ratio of 22.59 and a beta of 0.88. Acushnet Holdings Corp. has a 12 month low of $49.42 and a 12 month high of $70.10. The stock’s 50-day moving average price is $63.96 and its two-hundred day moving average price is $64.06. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91.

Acushnet (NYSE:GOLF) last announced its earnings results on Tuesday, May 7th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.24 by $0.19. The firm had revenue of $707.55 million for the quarter, compared to the consensus estimate of $692.41 million. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. On average, analysts anticipate that Acushnet Holdings Corp. will post 3.13 EPS for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, June 7th. Acushnet’s dividend payout ratio is 29.86%.

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.