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

Quantbot Technologies LP grew its stake in shares of Acushnet (NYSE:GOLF) by 53.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,478 shares of the company’s stock after buying an additional 13,693 shares during the quarter. Quantbot Technologies LP’s holdings in Acushnet were worth $3,099,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in Acushnet by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after acquiring an additional 140 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in Acushnet by 0.3% during the third quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock worth $3,630,000 after purchasing an additional 148 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Acushnet by 7.1% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company’s stock worth $253,000 after purchasing an additional 230 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Acushnet by 4.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,618 shares of the company’s stock worth $409,000 after purchasing an additional 232 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Acushnet by 3.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,789 shares of the company’s stock valued at $494,000 after purchasing an additional 241 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley boosted 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. UBS Group set a $100.00 price objective on shares of Acushnet in a report on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. Truist Financial lifted their target price on shares of Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. Finally, Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $89.57.

Acushnet Stock Performance

NYSE:GOLF 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 firm has a market cap of $5.94 billion, a PE ratio of 32.65 and a beta of 0.88. The business has a 50 day moving average price of $93.42 and a 200-day moving average price of $84.38.

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

Acushnet Increases Dividend

The company also recently announced 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. This is an increase from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Acushnet’s dividend payout ratio (DPR) is currently 30.32%.

Acushnet Company 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.