Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 1,627.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,666 shares of the company’s stock after purchasing an additional 5,338 shares during the period. Point72 DIFC Ltd’s holdings in Acushnet were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. purchased a new position in shares of Acushnet in the 3rd quarter valued at approximately $40,000. Prospera Private Wealth LLC purchased a new position in Acushnet in the 3rd quarter valued at $41,000. nVerses Capital LLC acquired a new position in Acushnet in the 3rd quarter valued at $57,000. Whittier Trust Co. of Nevada Inc. increased its stake in Acushnet by 1,719.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock valued at $78,000 after buying an additional 1,152 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Acushnet during the 2nd quarter worth $83,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOLF. Truist Financial boosted 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. Jefferies Financial Group cut 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.40.

Acushnet Stock Performance

GOLF opened at $74.21 on Friday. Acushnet Holdings Corp. has a 1-year low of $56.34 and a 1-year high of $76.38. The stock has a market cap of $4.51 billion, a P/E ratio of 25.24 and a beta of 0.88. The stock’s 50 day simple moving average is $66.60 and its 200 day simple moving average is $65.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same quarter last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now directly owns 88,710 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 54.60% of the company’s stock.

About Acushnet

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.