nVerses Capital LLC Makes New $57,000 Investment in Acushnet Holdings Corp. (NYSE:GOLF)

nVerses Capital LLC acquired a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 900 shares of the company’s stock, valued at approximately $57,000.

Other large investors have also modified their holdings of the company. Azzad Asset Management Inc. ADV boosted its holdings in shares of Acushnet by 1.9% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,305 shares of the company’s stock valued at $614,000 after purchasing an additional 173 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Acushnet by 5.2% in the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after buying an additional 176 shares during the period. SkyView Investment Advisors LLC boosted its holdings 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 acquiring an additional 187 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Acushnet by 8.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock valued at $221,000 after acquiring an additional 260 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in Acushnet by 7.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock worth $257,000 after acquiring an additional 269 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Price Performance

Shares of GOLF stock opened at $61.88 on Tuesday. The firm has a fifty day simple moving average of $64.75 and a 200-day simple moving average of $64.66. The company has a market capitalization of $3.90 billion, a PE ratio of 21.49 and a beta of 0.84. Acushnet Holdings Corp. has a twelve month low of $49.42 and a twelve month high of $74.77. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS 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 firm had revenue of $683.90 million during 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 business’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s payout ratio is 29.86%.

Analysts Set New Price Targets

GOLF has been the subject of a number of research reports. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Truist Financial increased their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Compass Point reduced their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Acushnet currently has an average rating of “Hold” and a consensus target price of $67.43.

Insider Activity

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 completion of the sale, the director now owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 54.60% of the company’s stock.

Acushnet Company 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.