Tidal Investments LLC Invests $508,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Tidal Investments LLC bought a new position in Acushnet Holdings Corp. (NYSE:GOLF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,972 shares of the company’s stock, valued at approximately $508,000.

A number of other institutional investors have also added to or reduced their stakes in GOLF. Bank of New York Mellon Corp boosted its holdings in shares of Acushnet by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company’s stock worth $15,264,000 after purchasing an additional 4,644 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in Acushnet by 7.7% during the second quarter. Azzad Asset Management Inc. ADV now owns 10,017 shares of the company’s stock valued at $636,000 after acquiring an additional 712 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Acushnet by 7,290.7% during the second quarter. Farther Finance Advisors LLC now owns 5,543 shares of the company’s stock worth $340,000 after acquiring an additional 5,468 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Acushnet in the 2nd quarter worth approximately $200,000. Finally, Cannon Global Investment Management LLC purchased a new stake in shares of Acushnet in the 2nd quarter valued at $368,000. Institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOLF shares. Truist Financial lifted their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and lowered their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acushnet has an average rating of “Hold” and a consensus target price of $71.40.

Insider Buying and Selling at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the transaction, the insider now directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

Shares of NYSE:GOLF opened at $69.92 on Monday. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.59. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 23.78 and a beta of 0.88. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $68.57 and a 200-day moving average price of $66.53.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $620.40 million. During the same period in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current 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 issued a $0.215 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.23%. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

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.