Atria Investments Inc Buys 1,650 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Atria Investments Inc boosted its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,622 shares of the company’s stock after buying an additional 1,650 shares during the quarter. Atria Investments Inc’s holdings in Acushnet were worth $1,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GOLF. Victory Capital Management Inc. lifted its stake 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 purchasing an additional 889,515 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Acushnet in the first quarter valued at approximately $8,754,000. International Assets Investment Management LLC bought a new stake in Acushnet during the 3rd quarter valued at $7,986,000. Thornburg Investment Management Inc. bought a new position in shares of Acushnet in the second quarter worth $7,794,000. Finally, Point72 Asset Management L.P. increased its stake in Acushnet by 2,217.7% in the second quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock valued at $4,708,000 after acquiring an additional 70,966 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Up 1.6 %

NYSE:GOLF opened at $69.38 on Friday. The company’s fifty day moving average price is $64.05 and its 200-day moving average price is $64.94. Acushnet Holdings Corp. has a 1-year low of $55.74 and a 1-year high of $76.38. The firm has a market capitalization of $4.22 billion, a P/E ratio of 23.60 and a beta of 0.85. 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 released its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same period last year, the business earned $0.85 earnings per share. Acushnet’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.24%. Acushnet’s payout ratio is 29.25%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOLF. Compass Point dropped their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial lifted 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. Finally, Jefferies Financial Group downgraded 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.40.

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.