22,628 Shares in Acushnet Holdings Corp. (NYSE:GOLF) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,628 shares of the company’s stock, valued at approximately $1,443,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GOLF. New Covenant Trust Company N.A. purchased a new stake in Acushnet during the first quarter valued at approximately $27,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Acushnet during the 3rd quarter valued at $40,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet in the 3rd quarter worth $41,000. nVerses Capital LLC purchased a new position in Acushnet during the 3rd quarter worth $57,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Acushnet by 1,719.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after buying an additional 1,152 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of GOLF opened at $74.28 on Tuesday. The company has a market capitalization of $4.52 billion, a P/E ratio of 25.29 and a beta of 0.85. The business’s 50-day moving average is $64.62 and its two-hundred day moving average is $65.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a fifty-two week low of $55.74 and a fifty-two week high of $76.38.

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

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.16%. Acushnet’s dividend payout ratio is currently 29.25%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOLF. Compass Point dropped their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.