Linden Thomas Advisory Services LLC Invests $216,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Linden Thomas Advisory Services LLC purchased 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 fund purchased 3,419 shares of the company’s stock, valued at approximately $216,000.

Several other large investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. bought a new stake in Acushnet during the fourth quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Acushnet by 7.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,403 shares of the company’s stock valued at $531,000 after buying an additional 566 shares during the period. Strs Ohio bought a new stake in Acushnet during the fourth quarter valued at approximately $890,000. Cerity Partners LLC bought a new stake in Acushnet during the fourth quarter valued at approximately $572,000. Finally, International Assets Investment Management LLC bought a new stake in Acushnet during the fourth quarter valued at approximately $9,318,000. 53.12% of the stock is currently owned by institutional investors.

Acushnet Price Performance

GOLF stock opened at $62.23 on Friday. Acushnet Holdings Corp. has a one year low of $43.62 and a one year high of $70.10. The company’s fifty day moving average price is $64.36 and its 200-day moving average price is $61.23. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.84 and a current ratio of 2.21. The company has a market capitalization of $3.94 billion, a PE ratio of 21.53 and a beta of 0.87.

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

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.215 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, March 7th. This represents a $0.86 dividend on an annualized basis and a yield of 1.38%. Acushnet’s dividend payout ratio is presently 29.76%.

Insider Activity at Acushnet

In related news, insider John Francis Duke, Jr. sold 17,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the sale, the insider now owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Acushnet news, insider Brendan J. Reidy sold 9,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total transaction of $580,410.00. Following the transaction, the insider now owns 58,588 shares in the company, valued at $3,778,340.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. 54.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOLF. Truist Financial lifted their price target on shares of Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. KeyCorp lifted their price target on shares of Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Acushnet has an average rating of “Moderate Buy” and an average price target of $66.71.

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.