Quadrature Capital Ltd Decreases Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Quadrature Capital Ltd lessened its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 20.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,436 shares of the company’s stock after selling 2,176 shares during the period. Quadrature Capital Ltd’s holdings in Acushnet were worth $533,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Acushnet by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 2,995,230 shares of the company’s stock valued at $189,209,000 after acquiring an additional 20,547 shares during the period. Wellington Management Group LLP lifted its position in Acushnet by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 1,964,870 shares of the company’s stock valued at $124,121,000 after purchasing an additional 25,869 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Acushnet during the fourth quarter worth approximately $1,363,000. First National Bank of Omaha raised its stake in shares of Acushnet by 7.0% during the fourth quarter. First National Bank of Omaha now owns 10,745 shares of the company’s stock worth $679,000 after acquiring an additional 703 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Acushnet during the fourth quarter worth approximately $1,158,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLF has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Acushnet from $62.00 to $63.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $66.38.

Acushnet Stock Up 0.8 %

NYSE GOLF opened at $65.26 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. The company has a fifty day moving average of $63.62 and a two-hundred day moving average of $63.87. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 22.66 and a beta of 0.88. Acushnet Holdings Corp. has a 52 week low of $49.42 and a 52 week high of $70.10.

Acushnet (NYSE:GOLF) last released its earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.19. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The business had revenue of $707.55 million during the quarter, compared to the consensus estimate of $692.41 million. On average, analysts predict that Acushnet Holdings Corp. will post 3.13 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.215 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.86 annualized dividend and a dividend yield of 1.32%. Acushnet’s payout ratio is currently 29.86%.

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.