Olympiad Research LP Grows Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Olympiad Research LP grew its holdings in Acushnet Holdings Corp. (NYSE:GOLFFree Report) by 53.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,737 shares of the company’s stock after acquiring an additional 2,350 shares during the quarter. Olympiad Research LP’s holdings in Acushnet were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOLF. Federated Hermes Inc. purchased a new position in Acushnet during the 4th quarter worth approximately $32,000. Gladius Capital Management LP acquired a new stake in Acushnet during the 4th quarter worth approximately $37,000. Principal Securities Inc. acquired a new stake in Acushnet during the 4th quarter worth approximately $37,000. Phillips Wealth Planners LLC acquired a new stake in Acushnet during the 4th quarter worth approximately $204,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Acushnet during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Stock Down 0.8 %

Shares of GOLF traded down $0.49 during midday trading on Wednesday, reaching $63.05. 64,375 shares of the company were exchanged, compared to its average volume of 337,607. The stock has a 50-day moving average price of $63.47 and a 200-day moving average price of $62.95. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 21.98 and a beta of 0.88. Acushnet Holdings Corp. has a 1-year low of $44.42 and a 1-year high of $70.10. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91.

Acushnet (NYSE:GOLFGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.24 by $0.19. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The business had revenue of $707.55 million for the quarter, compared to analysts’ expectations of $692.41 million. Research analysts expect that Acushnet Holdings Corp. will post 3.11 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, June 7th. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOLF. Truist Financial increased their price objective on Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. raised their price objective on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus target price of $66.38.

Get Our Latest Research Report on GOLF

Insider Activity at Acushnet

In related news, insider Brendan J. Reidy sold 9,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the completion of the sale, the insider now directly owns 58,588 shares of the company’s stock, valued at $3,778,340.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the completion of the transaction, the insider now directly owns 58,588 shares of the company’s stock, valued at $3,778,340.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now directly owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The disclosure for this sale can be found here. 54.60% of the stock is owned by corporate insiders.

Acushnet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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