Orion Portfolio Solutions LLC Acquires 330 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Orion Portfolio Solutions LLC boosted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,628 shares of the company’s stock after purchasing an additional 330 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Acushnet were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOLF. Victory Capital Management Inc. boosted its holdings in shares of Acushnet by 871.1% during the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after buying an additional 889,515 shares during the period. FMR LLC boosted its holdings in shares of Acushnet by 2.5% during the third quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after acquiring an additional 10,762 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Acushnet in the third quarter valued at approximately $1,443,000. Raymond James & Associates increased its stake in shares of Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Acushnet by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 130,868 shares of the company’s stock worth $8,307,000 after purchasing an additional 8,248 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and lowered 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 target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.40.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the transaction, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Acushnet Stock Down 0.6 %

Shares of NYSE GOLF opened at $73.12 on Tuesday. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.59. The stock’s fifty day moving average is $67.80 and its 200 day moving average is $66.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The stock has a market capitalization of $4.45 billion, a P/E ratio of 24.89 and a beta of 0.88.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 EPS. Sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio is presently 29.25%.

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.