Landscape Capital Management L.L.C. acquired a new position in Acushnet Holdings Corp (NYSE:GOLF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 170,455 shares of the company’s stock, valued at approximately $4,476,000. Landscape Capital Management L.L.C. owned approximately 0.23% of Acushnet as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new stake in Acushnet in the 1st quarter worth about $34,000. Advisor Group Inc. increased its holdings in Acushnet by 29.9% in the 4th quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Amica Retiree Medical Trust bought a new stake in Acushnet in the 2nd quarter worth about $109,000. Aperio Group LLC bought a new stake in Acushnet in the 2nd quarter worth about $135,000. Finally, SG Americas Securities LLC bought a new stake in Acushnet in the 1st quarter worth about $189,000. Institutional investors own 50.55% of the company’s stock.
NYSE GOLF traded down $0.44 during trading hours on Thursday, reaching $25.02. The company’s stock had a trading volume of 3,833 shares, compared to its average volume of 172,946. The business’s 50-day moving average is $25.97. The company has a quick ratio of 1.24, a current ratio of 2.15 and a debt-to-equity ratio of 0.34. Acushnet Holdings Corp has a 1 year low of $20.24 and a 1 year high of $27.87. The stock has a market cap of $1.89 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 3.24 and a beta of 0.99.
Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.08). Acushnet had a return on equity of 9.81% and a net margin of 5.71%. The business had revenue of $462.22 million during the quarter, compared to analysts’ expectations of $484.88 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that Acushnet Holdings Corp will post 1.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, August 29th. Acushnet’s payout ratio is 42.42%.
GOLF has been the subject of several research analyst reports. Roth Capital upgraded Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $27.00 to $28.00 in a report on Thursday, May 9th. Zacks Investment Research downgraded Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. ValuEngine upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Thursday. SunTrust Banks downgraded Acushnet from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a research note on Wednesday, July 31st. Finally, Wells Fargo & Co set a $25.00 price target on Acushnet and gave the company a “hold” rating in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.24.
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.
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