Gladius Capital Management LP Takes Position in Acushnet Holdings Corp. (NYSE:GOLF)

Gladius Capital Management LP purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 591 shares of the company’s stock, valued at approximately $37,000.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Acushnet in the 4th quarter valued at about $9,318,000. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Acushnet by 32.3% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 386,443 shares of the company’s stock worth $20,497,000 after acquiring an additional 94,253 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Acushnet by 8.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 965,654 shares of the company’s stock worth $51,221,000 after acquiring an additional 71,263 shares during the period. Qube Research & Technologies Ltd increased its stake in Acushnet by 284.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 78,636 shares of the company’s stock valued at $4,171,000 after purchasing an additional 58,195 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Acushnet by 107.5% during the third quarter. Envestnet Asset Management Inc. now owns 95,923 shares of the company’s stock worth $5,088,000 after purchasing an additional 49,706 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insiders Place Their Bets

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider John Francis Duke, Jr. sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares in the company, valued at $8,391,959.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brendan J. Reidy sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the sale, the insider now owns 58,588 shares of the company’s stock, valued at $3,778,340.12. The disclosure for this sale can be found here. 54.60% of the stock is currently owned by insiders.

Acushnet Trading Up 0.7 %

Shares of NYSE GOLF traded up $0.44 during midday trading on Thursday, reaching $63.47. 262,367 shares of the stock were exchanged, compared to its average volume of 356,059. Acushnet Holdings Corp. has a 52-week low of $43.62 and a 52-week high of $70.10. The stock has a 50 day moving average price of $63.36 and a 200-day moving average price of $61.82. The company has a market capitalization of $4.02 billion, a P/E ratio of 22.04 and a beta of 0.88. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business had revenue of $413.00 million for the quarter, compared to analyst estimates of $429.16 million. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts expect that Acushnet Holdings Corp. will post 3.17 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 7th. Acushnet’s dividend payout ratio (DPR) is 29.86%.

Analyst Upgrades and Downgrades

GOLF has been the subject of a number of research analyst reports. Truist Financial raised their price target on Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday. KeyCorp upped their price target on shares of Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.86.

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.