Moody Aldrich Partners LLC Purchases 17,222 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Moody Aldrich Partners LLC raised its position in Acushnet Holdings Corp. (NYSE:GOLF) by 34.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,810 shares of the company’s stock after purchasing an additional 17,222 shares during the period. Moody Aldrich Partners LLC’s holdings in Acushnet were worth $4,323,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of Acushnet during the first quarter worth $27,000. Brown Lisle Cummings Inc. bought a new position in Acushnet during the 3rd quarter worth about $40,000. nVerses Capital LLC acquired a new stake in Acushnet in the 3rd quarter valued at approximately $57,000. Benjamin F. Edwards & Company Inc. lifted its stake in Acushnet by 101.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after acquiring an additional 585 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Acushnet by 1,719.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after acquiring an additional 1,152 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now directly owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOLF shares. Compass Point decreased their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial raised their price objective on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and lowered their target price for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.43.

Acushnet Stock Performance

Shares of NYSE GOLF traded up $0.39 during midday trading on Thursday, hitting $60.61. 23,467 shares of the company’s stock were exchanged, compared to its average volume of 306,166. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3.82 billion, a PE ratio of 20.89 and a beta of 0.84. Acushnet Holdings Corp. has a 12 month low of $49.42 and a 12 month high of $74.77. The company’s 50 day moving average price is $64.55 and its 200 day moving average price is $64.61.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. As a group, analysts predict that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.215 per share. The ex-dividend date was Friday, September 6th. This represents a $0.86 annualized dividend and a yield of 1.42%. Acushnet’s payout ratio is currently 29.86%.

Acushnet Company 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.