Vontobel Holding Ltd. Invests $209,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Vontobel Holding Ltd. purchased a new stake in Acushnet Holdings Corp. (NYSE:GOLF) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 3,284 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors have also recently added to or reduced their stakes in GOLF. New Covenant Trust Company N.A. acquired a new stake in shares of Acushnet in the 1st quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. raised its stake in Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after buying an additional 585 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Acushnet during the 2nd quarter worth approximately $83,000. Crestwood Advisors Group LLC acquired a new position in shares of Acushnet in the 2nd quarter worth approximately $200,000. Finally, Algert Global LLC acquired a new position in shares of Acushnet in the 2nd quarter worth approximately $203,000. 53.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the sale, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

GOLF has been the topic of several research analyst reports. Compass Point reduced their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial lifted their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.43.

Acushnet Price Performance

Shares of NYSE GOLF opened at $60.16 on Thursday. Acushnet Holdings Corp. has a 1-year low of $49.42 and a 1-year high of $74.77. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The business’s fifty day moving average price is $64.55 and its two-hundred day moving average price is $64.61.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The firm had revenue of $683.90 million during the quarter, compared to analyst estimates of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. On average, research analysts expect that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.43%. Acushnet’s dividend payout ratio is presently 29.86%.

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.