International Assets Investment Management LLC Makes New $7.99 Million Investment in Acushnet Holdings Corp. (NYSE:GOLF)

International Assets Investment Management LLC acquired a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 125,269 shares of the company’s stock, valued at approximately $7,986,000. International Assets Investment Management LLC owned 0.20% of Acushnet as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Acushnet by 1,719.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock valued at $78,000 after purchasing an additional 1,152 shares during the period. Brown Lisle Cummings Inc. acquired a new stake in shares of Acushnet in the 3rd quarter worth about $40,000. Raymond James & Associates increased its holdings in shares of Acushnet by 0.9% in the 3rd quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after acquiring an additional 4,300 shares during the period. nVerses Capital LLC bought a new position in Acushnet in the 3rd quarter valued at about $57,000. Finally, Vontobel Holding Ltd. bought a new position in Acushnet in the 3rd quarter valued at about $209,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOLF shares. Compass Point reduced their price objective 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. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and cut their price objective for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Truist Financial lifted their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.43.

Insiders Place Their Bets

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 54.60% of the company’s stock.

Acushnet Stock Down 0.7 %

GOLF opened at $61.19 on Friday. Acushnet Holdings Corp. has a fifty-two week low of $49.42 and a fifty-two week high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The firm’s fifty day moving average price is $63.97 and its two-hundred day moving average price is $64.55. The company has a market capitalization of $3.86 billion, a P/E ratio of 21.28 and a beta of 0.84.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The business had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.215 per share. The ex-dividend date was Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.41%. Acushnet’s dividend payout ratio is currently 29.86%.

About Acushnet

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.