Walleye Capital LLC Invests $1.04 Million in Acushnet Holdings Corp. (NYSE:GOLF)

Walleye Capital LLC acquired a new stake in Acushnet Holdings Corp. (NYSE:GOLF) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,258 shares of the company’s stock, valued at approximately $1,036,000.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Acushnet by 871.1% during the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after buying an additional 889,515 shares during the period. Eagle Asset Management Inc. increased its stake in Acushnet by 133.0% in the third quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock valued at $19,059,000 after purchasing an additional 170,668 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Acushnet in the 3rd quarter valued at about $7,986,000. Thornburg Investment Management Inc. bought a new stake in Acushnet in the 2nd quarter valued at about $7,794,000. Finally, Point72 Asset Management L.P. raised its stake in Acushnet by 2,217.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock worth $4,708,000 after buying an additional 70,966 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

Shares of Acushnet stock opened at $74.67 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 52 week low of $56.34 and a 52 week high of $76.38. The business has a 50 day moving average of $66.40 and a 200 day moving average of $65.83. The company has a market cap of $4.54 billion, a PE ratio of 25.40 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million for the quarter, compared to analysts’ expectations of $620.40 million. During the same quarter in the previous year, the business posted $0.85 EPS. Acushnet’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Analysts Set New Price Targets

Several analysts recently issued reports on GOLF shares. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and reduced their price target for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus target price of $71.40.

Insider Activity at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the transaction, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 54.60% of the stock is currently owned by company insiders.

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.