Wealth Enhancement Advisory Services LLC Makes New Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,360 shares of the company’s stock, valued at approximately $239,000.

Several other large investors have also bought and sold shares of GOLF. Principal Financial Group Inc. boosted its holdings in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after acquiring an additional 63,294 shares during the last quarter. Franklin Resources Inc. increased its holdings in Acushnet by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 22,831 shares of the company’s stock valued at $1,455,000 after acquiring an additional 548 shares during the last quarter. Tidal Investments LLC bought a new stake in Acushnet in the 3rd quarter worth approximately $508,000. SkyView Investment Advisors LLC increased its holdings in shares of Acushnet by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock worth $1,324,000 after buying an additional 376 shares during the last quarter. Finally, Virtu Financial LLC increased its position in shares of Acushnet by 152.6% during the 3rd quarter. Virtu Financial LLC now owns 8,163 shares of the company’s stock valued at $520,000 after purchasing an additional 4,931 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th.

Acushnet Trading Up 0.1 %

GOLF opened at $73.70 on Friday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 25.07 and a beta of 0.88. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average price of $72.02 and a 200-day moving average price of $67.50. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.59.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same period last year, the business posted $0.85 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

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.