Heritage Family Offices LLP Invests $205,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Heritage Family Offices LLP bought a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,878 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brown Lisle Cummings Inc. bought a new stake in shares of Acushnet in the third quarter worth $40,000. Prospera Private Wealth LLC acquired a new position in Acushnet during the 3rd quarter worth $41,000. nVerses Capital LLC acquired a new stake in shares of Acushnet in the 3rd quarter valued at about $57,000. Quarry LP lifted its position in shares of Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after purchasing an additional 932 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Acushnet by 1,719.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after purchasing an additional 1,152 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Up 0.9 %

Shares of NYSE:GOLF opened at $73.66 on Friday. The company’s fifty day moving average is $71.99 and its two-hundred day moving average is $67.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.59. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 25.05 and a beta of 0.88.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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%. Acushnet’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.17%. Acushnet’s payout ratio is currently 29.25%.

Analyst Ratings Changes

Separately, Truist Financial upped their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th.

Insiders Place Their Bets

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction dated 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. The trade was a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 54.60% of the stock is owned by corporate insiders.

Acushnet 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.