Point72 Asset Management L.P. Acquires 70,966 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Point72 Asset Management L.P. boosted its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 2,217.7% in the second quarter, Holdings Channel reports. The firm owned 74,166 shares of the company’s stock after purchasing an additional 70,966 shares during the quarter. Point72 Asset Management L.P.’s holdings in Acushnet were worth $4,708,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GOLF. Creative Planning boosted its stake in Acushnet by 5.1% in the 2nd quarter. Creative Planning now owns 7,194 shares of the company’s stock valued at $457,000 after buying an additional 349 shares in the last quarter. Algert Global LLC bought a new position in shares of Acushnet during the second quarter valued at $203,000. SkyView Investment Advisors LLC boosted its stake in shares of Acushnet by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Acushnet in the 2nd quarter worth about $605,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Acushnet during the 2nd quarter worth about $562,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOLF shares. Compass Point reduced their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial raised their price target on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.43.

Acushnet Stock Down 0.9 %

NYSE:GOLF opened at $63.20 on Wednesday. The stock’s fifty day moving average price is $66.64 and its two-hundred day moving average price is $64.80. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 21.94 and a beta of 0.85. Acushnet Holdings Corp. has a 52-week low of $49.42 and a 52-week high of $74.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The firm had revenue of $683.90 million during the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the prior year, the business earned $1.09 EPS. Acushnet’s revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.215 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 annualized dividend and a yield of 1.36%. Acushnet’s dividend payout ratio is currently 29.86%.

Insider Buying and Selling at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.