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

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Acushnet during the 4th quarter worth approximately $51,000. Berry Wealth Group LP acquired a new stake in Acushnet during the 4th quarter worth approximately $202,000. Heritage Family Offices LLP acquired a new stake in Acushnet during the 4th quarter worth approximately $205,000. Finally, Hyperion Capital Advisors LP acquired a new stake in Acushnet during the 4th quarter worth approximately $206,000. 53.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp lifted their price objective on Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Truist Financial lifted their price objective on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report on Thursday, May 8th. StockNews.com cut Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Acushnet presently has an average rating of "Hold" and an average price target of $70.00.

Acushnet Price Performance

Shares of GOLF traded up $1.66 during midday trading on Friday, hitting $72.13. The company's stock had a trading volume of 297,453 shares, compared to its average volume of 377,031. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. The company's fifty day simple moving average is $64.70 and its two-hundred day simple moving average is $67.89. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 24.53 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share 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 business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the previous year, the company posted $1.35 EPS. Acushnet's quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, June 6th. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 54.60% of the stock is owned by company insiders.

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.