Farther Finance Advisors LLC Purchases 5,468 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Farther Finance Advisors LLC lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 7,290.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,543 shares of the company’s stock after buying an additional 5,468 shares during the quarter. Farther Finance Advisors LLC’s holdings in Acushnet were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Acushnet during the 1st quarter valued at about $27,000. Federated Hermes Inc. purchased a new stake in Acushnet in the fourth quarter worth approximately $32,000. Principal Securities Inc. bought a new stake in Acushnet in the fourth quarter valued at approximately $37,000. Gladius Capital Management LP bought a new stake in Acushnet in the fourth quarter valued at approximately $37,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of Acushnet by 64,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 646 shares of the company’s stock valued at $410,000 after acquiring an additional 645 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Up 2.1 %

Shares of NYSE GOLF opened at $67.62 on Thursday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 23.48 and a beta of 0.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The business has a 50-day moving average of $66.45 and a two-hundred day moving average of $65.01. Acushnet Holdings Corp. has a 1 year low of $49.42 and a 1 year high of $74.77.

Acushnet (NYSE:GOLF) last posted its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). The firm had revenue of $683.90 million during the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, analysts forecast that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, September 6th. Acushnet’s dividend payout ratio is currently 29.86%.

Insider Activity at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 54.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GOLF has been the topic of a number of recent research reports. Compass Point cut their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial increased their target price on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.43.

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.