Quantedge Capital Pte Ltd Purchases 21,000 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Quantedge Capital Pte Ltd increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 115.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,200 shares of the company's stock after buying an additional 21,000 shares during the period. Quantedge Capital Pte Ltd owned 0.06% of Acushnet worth $2,786,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Blue Trust Inc. lifted its stake in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Acushnet during the fourth quarter worth about $51,000. Berry Wealth Group LP purchased a new stake in Acushnet in the fourth quarter valued at approximately $202,000. Heritage Family Offices LLP bought a new stake in Acushnet during the fourth quarter valued at approximately $205,000. Finally, Hyperion Capital Advisors LP bought a new position in shares of Acushnet in the 4th quarter worth $206,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Up 0.4%

GOLF traded up $0.26 during midday trading on Tuesday, reaching $72.17. The company's stock had a trading volume of 76,211 shares, compared to its average volume of 530,920. Acushnet Holdings Corp. has a 1 year low of $55.31 and a 1 year high of $76.65. The stock's 50-day moving average is $64.80 and its 200-day moving average is $68.00. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 24.55 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $703.37 million for the quarter, compared to analysts' expectations of $697.82 million. During the same period in the previous year, the firm posted $1.35 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, June 6th. Acushnet's dividend payout ratio is presently 26.11%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on GOLF. Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. KeyCorp boosted their price target on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. StockNews.com cut Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $70.00.

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.