Quantbot Technologies LP Buys 13,693 Shares of Acushnet $GOLF

Quantbot Technologies LP increased its stake in Acushnet (NYSE:GOLF) by 53.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,478 shares of the company’s stock after purchasing an additional 13,693 shares during the quarter. Quantbot Technologies LP owned approximately 0.07% of Acushnet worth $3,099,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Acushnet by 83.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after buying an additional 246 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Acushnet by 78.6% during the 2nd quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock worth $42,000 after acquiring an additional 253 shares during the period. Federated Hermes Inc. increased its holdings in Acushnet by 197.5% in the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock worth $47,000 after acquiring an additional 397 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in Acushnet in the 2nd quarter valued at about $100,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Roth Mkm reiterated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research report on Thursday, November 6th. Truist Financial upped their price target on shares of Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $74.00 to $96.00 in a report on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. Finally, Morgan Stanley increased their target price on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.57.

Acushnet Trading Down 1.1%

Acushnet stock opened at $101.23 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $104.81. The stock has a market cap of $5.94 billion, a P/E ratio of 32.65 and a beta of 0.88. The firm’s fifty day moving average price is $93.42 and its 200-day moving average price is $84.38.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The business had revenue of $477.22 million for the quarter, compared to analysts’ expectations of $453.59 million. Acushnet had a return on equity of 33.68% and a net margin of 7.37%.Acushnet’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Equities research analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. Acushnet’s payout ratio is presently 30.32%.

Acushnet Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.