Quantbot Technologies LP Buys 22,161 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Quantbot Technologies LP grew its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 152.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,681 shares of the company’s stock after buying an additional 22,161 shares during the period. Quantbot Technologies LP’s holdings in Acushnet were worth $2,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Acushnet during the 1st quarter valued at $220,000. Vanguard Group Inc. raised its holdings in Acushnet by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after acquiring an additional 15,088 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Acushnet by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after acquiring an additional 269 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Acushnet by 5.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 13,264 shares of the company’s stock worth $875,000 after acquiring an additional 630 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Acushnet by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,527 shares of the company’s stock worth $1,354,000 after purchasing an additional 933 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group lowered 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, Compass Point reduced their price target 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $71.40.

Insider Buying and Selling at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Down 1.3 %

Shares of GOLF opened at $72.92 on Friday. The business’s 50 day simple moving average is $65.37 and its 200-day simple moving average is $65.49. Acushnet Holdings Corp. has a 1 year low of $55.74 and a 1 year high of $76.38. 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 stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 24.80 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS 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 business had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same quarter last year, the business earned $0.85 earnings per share. Acushnet’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.18%. Acushnet’s payout ratio is currently 29.25%.

Acushnet 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.