Landscape Capital Management L.L.C. Makes New $1.06 Million Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Landscape Capital Management L.L.C. acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,542 shares of the company’s stock, valued at approximately $1,055,000.

Several other large investors have also modified their holdings of GOLF. Vanguard Group Inc. raised its position in shares of Acushnet by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock worth $198,530,000 after buying an additional 15,088 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after purchasing an additional 889,515 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Acushnet by 126.4% in the 1st quarter. Janus Henderson Group PLC now owns 36,470 shares of the company’s stock worth $2,405,000 after purchasing an additional 20,360 shares during the period. Raymond James & Associates grew its holdings in shares of Acushnet by 0.9% during the 3rd quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Acushnet by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 130,868 shares of the company’s stock worth $8,307,000 after purchasing an additional 8,248 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Trading Up 0.8 %

GOLF opened at $71.93 on Friday. The firm’s 50 day moving average is $64.51 and its 200-day moving average is $65.17. Acushnet Holdings Corp. has a 52-week low of $55.74 and a 52-week high of $76.38. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.37 billion, a P/E ratio of 24.47 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. Analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio is currently 29.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and reduced their price target for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Compass Point reduced their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial upped their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $71.40.

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.