Acushnet Holdings Corp. (NYSE:GOLF) Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 13,363.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,698 shares of the company's stock after purchasing an additional 44,366 shares during the period. GAMMA Investing LLC owned about 0.07% of Acushnet worth $3,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOLF. Wealth Enhancement Advisory Services LLC purchased a new stake in Acushnet in the 4th quarter worth $233,000. Integrated Advisors Network LLC purchased a new position in shares of Acushnet during the fourth quarter worth approximately $288,000. Public Employees Retirement System of Ohio purchased a new position in shares of Acushnet during the fourth quarter worth approximately $31,000. State of Wyoming increased its holdings in Acushnet by 33.5% during the fourth quarter. State of Wyoming now owns 7,119 shares of the company's stock valued at $506,000 after buying an additional 1,788 shares during the period. Finally, Thornburg Investment Management Inc. increased its holdings in Acushnet by 20.3% during the fourth quarter. Thornburg Investment Management Inc. now owns 153,436 shares of the company's stock valued at $10,906,000 after buying an additional 25,920 shares during the period. Institutional investors own 53.12% of the company's stock.

Acushnet Trading Down 3.0%

Shares of NYSE:GOLF traded down $2.18 during trading on Friday, reaching $69.86. The stock had a trading volume of 254,182 shares, compared to its average volume of 386,275. The business has a fifty day moving average price of $66.68 and a 200-day moving average price of $68.12. 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 cap of $4.11 billion, a P/E ratio of 23.76 and a beta of 0.84. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last released 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. The company had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Acushnet's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 earnings per share. As a group, analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.235 per share. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.35%. Acushnet's dividend payout ratio (DPR) is 26.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Truist Financial lifted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, KeyCorp boosted their target price 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $70.00.

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.