GSA Capital Partners LLP Purchases Shares of 10,254 Acushnet Holdings Corp. (NYSE:GOLF)

GSA Capital Partners LLP purchased a new stake in Acushnet Holdings Corp. (NYSE:GOLF) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,254 shares of the company’s stock, valued at approximately $654,000.

A number of other hedge funds also recently made changes to their positions in the stock. Atria Investments Inc boosted its holdings in shares of Acushnet by 7.5% in the 3rd quarter. Atria Investments Inc now owns 23,622 shares of the company’s stock valued at $1,506,000 after purchasing an additional 1,650 shares during the last quarter. Olympiad Research LP purchased a new position in shares of Acushnet in the 3rd quarter valued at $232,000. Principal Financial Group Inc. raised its stake in shares of Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after acquiring an additional 63,294 shares during the period. Cannon Global Investment Management LLC raised its stake in shares of Acushnet by 63.8% in the 3rd quarter. Cannon Global Investment Management LLC now owns 9,500 shares of the company’s stock valued at $606,000 after acquiring an additional 3,700 shares during the period. Finally, Phillips Wealth Planners LLC purchased a new position in shares of Acushnet in the 3rd quarter valued at $204,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Compass Point cut their target price on shares of 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 cut their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Truist Financial lifted their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.40.

Acushnet Stock Performance

Acushnet stock opened at $68.43 on Tuesday. Acushnet Holdings Corp. has a 12-month low of $55.74 and a 12-month high of $76.38. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 23.57 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm’s fifty day moving average price is $64.05 and its 200 day moving average price is $65.00.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $620.50 million during 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 company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, December 6th. Acushnet’s payout ratio is currently 29.25%.

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.