Orion Portfolio Solutions LLC Purchases 330 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Orion Portfolio Solutions LLC raised its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,628 shares of the company’s stock after acquiring an additional 330 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Acushnet were worth $678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after acquiring an additional 889,515 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Acushnet by 702.1% during the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock valued at $32,430,000 after purchasing an additional 445,281 shares in the last quarter. Point72 Asset Management L.P. grew its position 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 valued at $16,970,000 after purchasing an additional 192,034 shares during the period. Eagle Asset Management Inc. increased its stake in Acushnet by 133.0% during the 3rd 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 in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Acushnet during the 3rd quarter worth approximately $7,986,000. 53.12% of the stock is currently owned by institutional investors.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now directly owns 88,710 shares in the company, valued at $6,556,556.10. The trade was a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

Shares of GOLF opened at $73.12 on Tuesday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 24.89 and a beta of 0.88. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.59. The firm has a fifty day simple moving average of $67.80 and a 200 day simple moving average of $66.34. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

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

Acushnet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOLF. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and reduced their price target for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Truist Financial increased their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.