Verition Fund Management LLC bought a new position in shares of Acushnet Holdings Corp (NYSE:GOLF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,358 shares of the company’s stock, valued at approximately $256,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in Acushnet by 3.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,676 shares of the company’s stock valued at $300,000 after acquiring an additional 373 shares during the period. Arizona State Retirement System increased its position in Acushnet by 6.8% in the 2nd quarter. Arizona State Retirement System now owns 8,483 shares of the company’s stock valued at $295,000 after acquiring an additional 542 shares during the period. Swiss National Bank increased its position in Acushnet by 1.1% in the 1st quarter. Swiss National Bank now owns 65,600 shares of the company’s stock valued at $1,687,000 after acquiring an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Acushnet by 43.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,718 shares of the company’s stock valued at $70,000 after acquiring an additional 824 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in Acushnet in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 50.52% of the company’s stock.
NYSE:GOLF opened at $34.06 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.02. The firm has a 50-day moving average of $35.64 and a two-hundred day moving average of $31.02. The stock has a market cap of $2.53 billion, a P/E ratio of 43.67 and a beta of 0.81. Acushnet Holdings Corp has a 1-year low of $20.65 and a 1-year high of $39.85.
Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.16). The firm had revenue of $300.00 million during the quarter, compared to analysts’ expectations of $339.41 million. Acushnet had a net margin of 3.94% and a return on equity of 7.91%. The business’s quarterly revenue was down 35.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities analysts expect that Acushnet Holdings Corp will post 1.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.62 annualized dividend and a dividend yield of 1.82%. Acushnet’s payout ratio is 38.75%.
GOLF has been the topic of a number of analyst reports. TheStreet lowered Acushnet from a “b” rating to a “c+” rating in a report on Wednesday, August 5th. Morgan Stanley lifted their price objective on Acushnet from $23.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Roth Capital lowered Acushnet from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, May 27th. SunTrust Banks boosted their price target on Acushnet from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, June 29th. Finally, Zacks Investment Research raised Acushnet from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $29.39.
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.
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