Edgestream Partners L.P. bought a new stake in shares of Acushnet (NYSE:GOLF - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 87,681 shares of the company's stock, valued at approximately $6,020,000. Edgestream Partners L.P. owned about 0.15% of Acushnet at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Acushnet in the fourth quarter valued at approximately $31,000. KBC Group NV acquired a new stake in shares of Acushnet in the first quarter valued at $44,000. GAMMA Investing LLC raised its stake in shares of Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $45,000 after acquiring an additional 319 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.
Acushnet Stock Performance
Shares of GOLF stock traded up $0.88 during mid-day trading on Wednesday, hitting $78.24. 382,159 shares of the stock were exchanged, compared to its average volume of 398,899. The stock's fifty day simple moving average is $72.21 and its two-hundred day simple moving average is $68.41. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.73 and a beta of 0.84. Acushnet has a 12-month low of $55.31 and a 12-month high of $79.23. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21.
Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The company had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same quarter last year, the company posted $1.35 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. On average, analysts forecast that Acushnet will post 3.06 EPS for the current year.
Acushnet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Friday, June 6th. Acushnet's dividend payout ratio is currently 26.11%.
Insider Activity
In related news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 53.60% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on GOLF. Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and cut their price target for the company from $80.00 to $71.00 in a research note on Monday, May 5th. Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, KeyCorp restated an "overweight" rating and issued a $80.00 price target (up from $75.00) on shares of Acushnet in a research note on Friday, June 27th. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $71.00.
Check Out Our Latest Stock Analysis on GOLF
About Acushnet
(
Free Report)
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.
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