SG Americas Securities LLC Has $1.19 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

SG Americas Securities LLC lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 783.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,391 shares of the company’s stock after purchasing an additional 15,422 shares during the period. SG Americas Securities LLC’s holdings in Acushnet were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Heritage Family Offices LLP lifted its stake in shares of Acushnet by 7.4% in the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company’s stock valued at $212,000 after purchasing an additional 212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Acushnet by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company’s stock worth $1,144,000 after acquiring an additional 213 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company’s stock worth $953,000 after acquiring an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Acushnet by 39.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after acquiring an additional 232 shares during the last quarter. Finally, Semanteon Capital Management LP lifted its position in Acushnet by 3.0% during the 4th quarter. Semanteon Capital Management LP now owns 9,659 shares of the company’s stock worth $687,000 after acquiring an additional 281 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOLF. Wall Street Zen lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. KeyCorp boosted their target price on shares of Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Truist Financial boosted their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Finally, Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Acushnet Price Performance

Shares of GOLF stock opened at $72.25 on Tuesday. Acushnet Holdings Corp. has a 1 year low of $55.31 and a 1 year high of $76.65. The firm’s 50 day moving average is $67.00 and its 200-day moving average is $68.04. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 24.57 and a beta of 0.84. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same period in the prior year, the business earned $1.35 earnings per share. Acushnet’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.30%. Acushnet’s payout ratio is 26.11%.

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.