Barclays PLC Has $3.10 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Barclays PLC lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 361.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 48,563 shares of the company’s stock after acquiring an additional 38,041 shares during the period. Barclays PLC’s holdings in Acushnet were worth $3,096,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brown Lisle Cummings Inc. acquired a new stake in Acushnet in the 3rd quarter worth approximately $40,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet in the third quarter worth $41,000. nVerses Capital LLC bought a new stake in shares of Acushnet during the 3rd quarter worth $57,000. Quarry LP grew its stake in Acushnet by 745.6% in the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after buying an additional 932 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Acushnet by 1,719.4% in the 3rd 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 period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Up 0.8 %

Shares of GOLF opened at $70.45 on Tuesday. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.59. The firm has a market capitalization of $4.28 billion, a P/E ratio of 23.96 and a beta of 0.88. The company has a 50-day simple moving average of $68.70 and a 200-day simple moving average of $66.57. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) 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. The company had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. On average, equities research analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOLF. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and decreased their price target for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Truist Financial increased their target price on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $71.40.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’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 value of $369,550.00. Following the sale, the insider now directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 54.60% of the company’s stock.

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.