Heritage Family Offices LLP Makes New Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Heritage Family Offices LLP purchased a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,878 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after buying an additional 445,281 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Acushnet by 258.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock worth $16,970,000 after acquiring an additional 192,034 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Acushnet by 133.0% during the third quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock worth $19,059,000 after purchasing an additional 170,668 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Acushnet during the third quarter valued at $7,986,000. Finally, Victory Capital Management Inc. boosted its position in shares of Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock valued at $68,384,000 after purchasing an additional 81,065 shares during the period. Institutional investors own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Truist Financial boosted their price objective on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th.

Insiders Place Their Bets

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, the insider now directly owns 88,710 shares of the company’s stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 54.60% of the company’s stock.

Acushnet Price Performance

GOLF opened at $73.66 on Friday. The firm has a market capitalization of $4.48 billion, a P/E ratio of 25.05 and a beta of 0.88. The stock has a fifty day moving average of $71.99 and a 200-day moving average of $67.41. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.59.

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

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.215 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.17%. Acushnet’s dividend payout ratio is presently 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.