Verition Fund Management LLC Takes $256,000 Position in Acushnet Holdings Corp (NYSE:GOLF)
Verition Fund Management LLC purchased a new stake in shares of Acushnet Holdings Corp (NYSE:GOLF) during the second quarter, Holdings Channel reports. The fund purchased 7,358 shares of the company’s stock, valued at approximately $256,000.
Several other institutional investors have also added to or reduced their stakes in GOLF. Steward Partners Investment Advisory LLC bought a new position in Acushnet in the 2nd quarter worth $42,000. Tower Research Capital LLC TRC raised its holdings in Acushnet by 10,200.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,236 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Acushnet by 43.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,718 shares of the company’s stock worth $70,000 after acquiring an additional 824 shares during the period. FDx Advisors Inc. bought a new position in Acushnet in the 1st quarter worth $273,000. Finally, Focused Wealth Management Inc bought a new position in Acushnet in the 2nd quarter worth $167,000. Institutional investors and hedge funds own 50.52% of the company’s stock.
Shares of Acushnet stock opened at $34.06 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 1.80. The firm’s 50-day simple moving average is $35.64 and its 200-day simple moving average is $31.02. Acushnet Holdings Corp has a twelve month low of $20.65 and a twelve month high of $39.85. The firm has a market cap of $2.53 billion, a P/E ratio of 43.67 and a beta of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 3rd. Acushnet’s dividend payout ratio (DPR) is 38.75%.
GOLF has been the topic of several research analyst reports. TheStreet lowered shares of Acushnet from a “b” rating to a “c+” rating in a research report on Wednesday, August 5th. SunTrust Banks raised their price target on shares of Acushnet from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. Morgan Stanley raised their price target on shares of Acushnet from $23.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Zacks Investment Research upgraded shares of Acushnet from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research report on Wednesday, September 9th. Finally, Roth Capital lowered shares of Acushnet from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Acushnet presently has a consensus rating of “Hold” and an average target price of $29.39.
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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