Eagle Asset Management Inc. Acquires 170,668 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Eagle Asset Management Inc. increased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 133.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,958 shares of the company’s stock after acquiring an additional 170,668 shares during the period. Eagle Asset Management Inc.’s holdings in Acushnet were worth $19,059,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Wedbush Securities Inc. boosted its stake in Acushnet by 5.2% during the second quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after acquiring an additional 176 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in Acushnet by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock worth $1,295,000 after acquiring an additional 187 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake in Acushnet by 2.0% during the third quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock worth $652,000 after acquiring an additional 204 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Acushnet by 8.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after acquiring an additional 260 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Acushnet by 7.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock worth $257,000 after acquiring an additional 269 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Up 0.8 %

GOLF opened at $71.93 on Friday. 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 50 day moving average price of $64.51 and a 200-day moving average price of $65.17. Acushnet Holdings Corp. has a twelve month low of $55.74 and a twelve month high of $76.38. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 24.47 and a beta of 0.85.

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 the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.215 per share. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.20%. Acushnet’s payout ratio is 29.25%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOLF. Compass Point decreased their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial lifted their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Three investment 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.com, the company presently has a consensus rating of “Hold” and an average 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.