GSA Capital Partners LLP Takes $654,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

GSA Capital Partners LLP bought a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,254 shares of the company’s stock, valued at approximately $654,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOLF. New Covenant Trust Company N.A. acquired a new position in Acushnet during the 1st quarter valued at about $27,000. Brown Lisle Cummings Inc. bought a new stake in shares of Acushnet during the 3rd quarter worth about $40,000. nVerses Capital LLC bought a new stake in shares of Acushnet during the 3rd quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Acushnet by 1,719.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after buying an additional 1,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Acushnet during the 2nd quarter worth about $83,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Down 1.3 %

NYSE GOLF opened at $68.43 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The company’s 50 day simple moving average is $64.05 and its 200 day simple moving average is $65.00. Acushnet Holdings Corp. has a 12 month low of $55.74 and a 12 month high of $76.38. The company has a market capitalization of $4.16 billion, a P/E ratio of 23.57 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, November 7th. The company reported $0.89 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 business had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. During the same period in the previous year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.26%. Acushnet’s dividend payout ratio is currently 29.25%.

Analyst Ratings Changes

A number of research firms have commented on GOLF. Truist Financial boosted their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Compass Point dropped 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. Finally, Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.40.

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.