Tudor Investment Corp ET AL Takes $5.38 Million Position in Acushnet $GOLF

Tudor Investment Corp ET AL acquired a new position in shares of Acushnet (NYSE:GOLF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 68,570 shares of the company’s stock, valued at approximately $5,382,000. Tudor Investment Corp ET AL owned 0.12% of Acushnet as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GOLF. Brown Brothers Harriman & Co. lifted its holdings in shares of Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new position in Acushnet during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its stake in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the last quarter. Allworth Financial LP increased its position in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after buying an additional 184 shares during the period. Finally, Federated Hermes Inc. increased its position in Acushnet by 197.5% in the third quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock worth $47,000 after buying an additional 397 shares during the period. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Up 0.9%

GOLF stock opened at $93.29 on Wednesday. The firm’s 50-day moving average is $96.82 and its two-hundred day moving average is $86.31. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 30.09 and a beta of 0.88. Acushnet has a 52 week low of $55.31 and a 52 week high of $104.81. The company has a current ratio of 2.38, a quick ratio of 0.97 and a debt-to-equity ratio of 1.18.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). The company had revenue of $477.22 million for the quarter, compared to analyst estimates of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. Acushnet’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) EPS. On average, analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio (DPR) is presently 32.90%.

Insider Buying and Selling at Acushnet

In related news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the transaction, the director owned 37,017 shares of the company’s stock, valued at $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 53.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOLF. UBS Group set a $100.00 price target on shares of Acushnet in a report on Thursday, February 26th. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $74.00 to $96.00 in a research report on Friday, January 23rd. Finally, Truist Financial lifted their price target on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a report on Monday, February 9th. Nine research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Acushnet presently has an average rating of “Hold” and a consensus target price of $89.57.

Acushnet Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.