Quantbot Technologies LP Takes $1.84 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

Quantbot Technologies LP bought a new position in Acushnet Holdings Corp. (NYSE:GOLF) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,931 shares of the company’s stock, valued at approximately $1,842,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOLF. Duality Advisers LP purchased a new stake in Acushnet during the first quarter valued at $1,773,000. Capstone Investment Advisors LLC bought a new stake in shares of Acushnet in the 1st quarter worth about $2,026,000. Janney Montgomery Scott LLC raised its position in shares of Acushnet by 15.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,502 shares of the company’s stock valued at $297,000 after buying an additional 591 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Acushnet by 3.2% in the 1st quarter. BNP Paribas Financial Markets now owns 40,636 shares of the company’s stock valued at $2,680,000 after acquiring an additional 1,243 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Acushnet by 101.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after acquiring an additional 585 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Holdings Corp. Fila sold 587,520 shares of Acushnet stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the transaction, the director now directly owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

Shares of Acushnet stock traded up $0.62 during midday trading on Friday, hitting $63.35. The company had a trading volume of 208,557 shares, compared to its average volume of 316,058. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 22.00 and a beta of 0.85. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. The company has a fifty day simple moving average of $63.87 and a 200 day simple moving average of $64.08. Acushnet Holdings Corp. has a 12-month low of $49.42 and a 12-month high of $70.10.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company had revenue of $707.55 million during the quarter, compared to analyst estimates of $692.41 million. As a group, analysts predict that Acushnet Holdings Corp. will post 3.12 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, June 7th. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial raised their price target on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Acushnet currently has an average rating of “Hold” and an average price target of $66.38.

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.