Azzad Asset Management Inc. ADV Increases Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Azzad Asset Management Inc. ADV lifted its position in Acushnet Holdings Corp. (NYSE:GOLF) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,221 shares of the company’s stock after buying an additional 204 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Acushnet were worth $652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedbush Securities Inc. raised its stake in Acushnet by 5.2% in the second quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock valued at $224,000 after purchasing an additional 176 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in Acushnet by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Acushnet by 8.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock valued at $221,000 after purchasing an additional 260 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Acushnet by 7.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after purchasing an additional 269 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in Acushnet by 6.6% in the first quarter. ProShare Advisors LLC now owns 5,447 shares of the company’s stock valued at $359,000 after purchasing an additional 339 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOLF has been the topic of several research reports. Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial lifted their price target on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.43.

Insider Activity at Acushnet

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction on 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 sale, the director now owns 31,412,966 shares in the company, valued at $2,016,398,287.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 54.60% of the stock is currently owned by company insiders.

Acushnet Stock Up 0.2 %

Shares of Acushnet stock opened at $63.36 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. Acushnet Holdings Corp. has a 52-week low of $49.42 and a 52-week high of $74.77. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 22.00 and a beta of 0.84. The company’s 50 day moving average price is $65.69 and its 200-day moving average price is $64.80.

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

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio (DPR) 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.