9,500 Shares in Acushnet $GOLF Bought by PDT Partners LLC

Key Points

• PDT Partners LLC acquired 9,500 shares of Acushnet for approximately $652,000 during the first quarter, indicating growing interest from institutional investors in the company.
• Analysts have mixed ratings on Acushnet, with one rating as a Buy, five as Hold, and one as Sell, and an average target price set at $73.33.
• Acushnet recently declared a quarterly dividend of $0.235 per share, leading to an annualized dividend yield of 1.2%.

PDT Partners LLC bought a new stake in shares of Acushnet (NYSE:GOLF - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,500 shares of the company's stock, valued at approximately $652,000.

Several other hedge funds have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Acushnet by 6.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock valued at $240,000 after purchasing an additional 203 shares during the last quarter. Heritage Family Offices LLP lifted its holdings in shares of Acushnet by 7.4% during the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock valued at $212,000 after purchasing an additional 212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Acushnet by 1.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock valued at $1,144,000 after purchasing an additional 213 shares during the last quarter. Berry Wealth Group LP lifted its holdings in shares of Acushnet by 8.0% during the first quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock valued at $211,000 after purchasing an additional 229 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after purchasing an additional 232 shares during the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GOLF shares. KeyCorp increased their price objective on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Zacks Research downgraded Acushnet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Morgan Stanley increased their price objective on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Acushnet presently has an average rating of "Hold" and an average price target of $73.33.

Insider Buying and Selling at Acushnet

In other news, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares of the company's stock, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the sale, the director directly 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 disclosure for this sale can be found here. Insiders own 53.60% of the company's stock.

Acushnet Price Performance

Shares of Acushnet stock traded down $1.11 during midday trading on Wednesday, hitting $74.63. 56,156 shares of the company were exchanged, compared to its average volume of 470,146. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. The firm has a market cap of $4.38 billion, a P/E ratio of 19.95 and a beta of 0.90. Acushnet has a 52 week low of $55.31 and a 52 week high of $84.40. The firm has a 50 day simple moving average of $78.30 and a 200-day simple moving average of $70.99.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The company had revenue of $720.48 million for the quarter, compared to the consensus estimate of $713.70 million. During the same quarter last year, the business earned $1.11 EPS. Acushnet's quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.235 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.94 annualized dividend and a yield of 1.3%. Acushnet's payout ratio is presently 25.13%.

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.