Gladius Capital Management LP Takes $37,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

Gladius Capital Management LP acquired a new position in Acushnet Holdings Corp. (NYSE:GOLF) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 591 shares of the company’s stock, valued at approximately $37,000.

Several other hedge funds have also recently bought and sold shares of the business. Federated Hermes Inc. bought a new stake in shares of Acushnet during the 4th quarter worth about $32,000. First Horizon Advisors Inc. raised its position in shares of Acushnet by 43.3% in the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after purchasing an additional 215 shares during the period. Linden Thomas Advisory Services LLC acquired a new stake in shares of Acushnet in the fourth quarter worth $216,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Acushnet during the 3rd quarter worth $224,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Acushnet in the 3rd quarter valued at $229,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOLF. KeyCorp boosted their target price on shares of Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Truist Financial increased their target price on Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.86.

Insider Buying and Selling

In other news, insider John Francis Duke, Jr. sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $64.32, for a total value of $1,093,440.00. Following the sale, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Acushnet news, insider Brendan J. Reidy sold 9,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the transaction, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the sale, the insider now directly owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

GOLF traded up $0.44 on Thursday, hitting $63.47. 262,367 shares of the stock traded hands, compared to its average volume of 356,059. The business has a fifty day moving average price of $63.36 and a two-hundred day moving average price of $61.82. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74. Acushnet Holdings Corp. has a 52 week low of $43.62 and a 52 week high of $70.10. The firm has a market capitalization of $4.02 billion, a PE ratio of 22.04 and a beta of 0.88.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The firm had revenue of $413.00 million during the quarter, compared to analyst estimates of $429.16 million. Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, research analysts predict that Acushnet Holdings Corp. will post 3.17 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.86 dividend on an annualized basis and a yield of 1.35%. Acushnet’s payout ratio is currently 29.86%.

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.