Yousif Capital Management LLC Takes $691,000 Position in Acushnet (NYSE:GOLF)

Yousif Capital Management 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 10,067 shares of the company's stock, valued at approximately $691,000.

Other hedge funds have also modified their holdings of the company. Impact Capital Partners LLC lifted its stake in Acushnet by 6.8% in the 1st quarter. Impact Capital Partners LLC now owns 11,991 shares of the company's stock worth $823,000 after acquiring an additional 766 shares in the last quarter. Heritage Family Offices LLP lifted its stake in Acushnet by 7.4% in the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock worth $212,000 after acquiring an additional 212 shares in the last quarter. Rhumbline Advisers lifted its stake in Acushnet by 89.6% in the 1st quarter. Rhumbline Advisers now owns 78,007 shares of the company's stock worth $5,356,000 after acquiring an additional 36,865 shares in the last quarter. GAMMA Investing LLC lifted its stake in Acushnet by 13,363.3% in the 1st quarter. GAMMA Investing LLC now owns 44,698 shares of the company's stock worth $3,069,000 after acquiring an additional 44,366 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Acushnet in the 4th quarter worth about $233,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Down 0.5%

Shares of GOLF traded down $0.34 during midday trading on Friday, reaching $71.08. 634,241 shares of the stock were exchanged, compared to its average volume of 390,652. Acushnet has a 12-month low of $55.31 and a 12-month high of $76.65. The firm has a 50 day simple moving average of $67.77 and a 200-day simple moving average of $68.06. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 19.74 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.35 EPS. Research analysts forecast that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders 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 1.32%. The ex-dividend date was Friday, June 6th. Acushnet's dividend payout ratio is 26.11%.

Analyst Ratings Changes

GOLF has been the subject of several research analyst reports. Truist Financial increased their price objective on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen downgraded Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and cut their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Finally, KeyCorp raised their price target on Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Acushnet has a consensus rating of "Hold" and an average target price 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.