Acushnet Holdings Corp. (NYSE:GOLF) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 11.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 18,436 shares of the company’s stock after purchasing an additional 1,909 shares during the period. BNP Paribas Financial Markets’ holdings in Acushnet were worth $1,175,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after acquiring an additional 889,515 shares during the last quarter. Eagle Asset Management Inc. increased its position in Acushnet by 133.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock worth $19,059,000 after purchasing an additional 170,668 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Acushnet during the 3rd quarter worth approximately $7,986,000. Thornburg Investment Management Inc. purchased a new position in Acushnet in the second quarter valued at approximately $7,794,000. Finally, Point72 Asset Management L.P. lifted its position in Acushnet by 2,217.7% during the second quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock valued at $4,708,000 after buying an additional 70,966 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOLF has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Truist Financial raised their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $71.40.

Insiders Place Their Bets

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

Acushnet Trading Up 1.7 %

NYSE GOLF opened at $75.48 on Tuesday. The stock has a market cap of $4.59 billion, a P/E ratio of 25.67 and a beta of 0.88. The company’s fifty day simple moving average is $66.83 and its 200-day simple moving average is $66.03. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 52 week low of $56.74 and a 52 week high of $76.38.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Equities research analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.14%. Acushnet’s dividend payout ratio (DPR) is presently 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.