PDT Partners LLC Has $740,000 Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

PDT Partners LLC decreased its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 5.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,610 shares of the company’s stock after selling 705 shares during the quarter. PDT Partners LLC’s holdings in Acushnet were worth $740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after purchasing an additional 889,515 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Acushnet by 133.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock valued at $19,059,000 after buying an additional 170,668 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Acushnet during the third quarter worth $7,986,000. Thornburg Investment Management Inc. acquired a new position in shares of Acushnet during the second quarter valued at $7,794,000. Finally, Point72 Asset Management L.P. boosted its holdings in Acushnet by 2,217.7% in the second quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock valued at $4,708,000 after acquiring an additional 70,966 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Ratings Changes

GOLF has been the subject of several recent research reports. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Truist Financial boosted their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Compass Point lowered their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $71.40.

Acushnet Stock Performance

Shares of NYSE:GOLF opened at $73.48 on Tuesday. The firm’s 50 day simple moving average is $65.76 and its 200 day simple moving average is $65.64. Acushnet Holdings Corp. has a fifty-two week low of $56.34 and a fifty-two week high of $76.38. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. During the same period last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.17%. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares of the company’s stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 54.60% of the stock is currently owned by insiders.

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.