Aigen Investment Management LP Invests $722,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Aigen Investment Management LP acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,161 shares of the company’s stock, valued at approximately $722,000.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after purchasing an additional 63,294 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Acushnet during the 3rd quarter valued at about $1,443,000. FMR LLC grew its position in Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after purchasing an additional 10,762 shares during the last quarter. Tidal Investments LLC purchased a new stake in Acushnet during the 3rd quarter valued at about $508,000. Finally, GSA Capital Partners LLP purchased a new stake in Acushnet during the 3rd quarter valued at about $654,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $68.71 on Friday. The firm’s 50 day moving average price is $68.55 and its 200-day moving average price is $67.58. Acushnet Holdings Corp. has a twelve month low of $58.54 and a twelve month high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $4.12 billion, a PE ratio of 23.37 and a beta of 0.79.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio is 28.23%.

Analyst Ratings Changes

Several analysts recently commented on GOLF shares. JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. StockNews.com raised shares of Acushnet from a “hold” rating to a “buy” rating in a report on Friday, February 28th. KeyCorp dropped their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the company from $77.00 to $80.00 in a report on Tuesday. Finally, Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.80.

Acushnet 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.