Algert Global LLC Acquires New Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Algert Global LLC acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,200 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in Acushnet during the first quarter valued at $27,000. Benjamin F. Edwards & Company Inc. increased its position in Acushnet by 101.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after buying an additional 585 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Acushnet in the second quarter worth about $83,000. Crestwood Advisors Group LLC purchased a new stake in Acushnet in the second quarter worth about $200,000. Finally, Quest Partners LLC purchased a new stake in Acushnet in the second quarter worth about $209,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

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

Acushnet Stock Performance

NYSE:GOLF opened at $63.20 on Friday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 21.94 and a beta of 0.84. The stock has a 50-day moving average price of $65.35 and a 200 day moving average price of $64.78. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. Acushnet Holdings Corp. has a 12-month low of $49.42 and a 12-month high of $74.77.

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

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, September 6th. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction that occurred 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 completion of the transaction, the director now owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.