3,419 Shares in Acushnet Holdings Corp. (NYSE:GOLF) Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC acquired a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,419 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOLF. International Assets Investment Management LLC bought a new position in shares of Acushnet in the fourth quarter worth $9,318,000. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Acushnet by 32.3% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company’s stock valued at $20,497,000 after buying an additional 94,253 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Acushnet by 8.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock worth $51,221,000 after acquiring an additional 71,263 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Acushnet by 284.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 78,636 shares of the company’s stock worth $4,171,000 after acquiring an additional 58,195 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Acushnet by 107.5% during the third quarter. Envestnet Asset Management Inc. now owns 95,923 shares of the company’s stock valued at $5,088,000 after purchasing an additional 49,706 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Truist Financial increased their price target on Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.71.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $62.23 on Friday. The company has a quick ratio of 0.84, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average is $64.36 and its 200-day moving average is $61.23. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 21.53 and a beta of 0.87. Acushnet Holdings Corp. has a twelve month low of $43.62 and a twelve month high of $70.10.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $413.00 million for the quarter, compared to analyst estimates of $429.16 million. Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Sell-side analysts forecast that Acushnet Holdings Corp. will post 3.17 EPS for the current fiscal year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.215 per share. The ex-dividend date was Thursday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.20. This represents a $0.86 annualized dividend and a yield of 1.38%. Acushnet’s payout ratio is 29.76%.

Insider Buying and Selling

In related news, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now directly owns 130,472 shares in the company, valued at $8,391,959.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now directly owns 130,472 shares in the company, valued at $8,391,959.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brendan J. Reidy sold 9,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the transaction, the insider now owns 58,588 shares in the company, valued at $3,778,340.12. The disclosure for this sale can be found here. 54.10% of the stock is owned by corporate insiders.

Acushnet 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.