Russell Investments Group Ltd. Boosts Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Russell Investments Group Ltd. lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 517.9% during the second quarter, Holdings Channel reports. The fund owned 19,805 shares of the company’s stock after acquiring an additional 16,600 shares during the period. Russell Investments Group Ltd.’s holdings in Acushnet were worth $977,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Handelsbanken Fonder AB purchased a new stake in shares of Acushnet during the second quarter worth $361,000. Clear Creek Financial Management LLC purchased a new stake in shares of Acushnet during the second quarter worth $3,581,000. Eagle Bay Advisors LLC acquired a new position in shares of Acushnet during the second quarter worth $63,000. Ellsworth Advisors LLC grew its stake in shares of Acushnet by 21.7% during the second quarter. Ellsworth Advisors LLC now owns 10,516 shares of the company’s stock worth $519,000 after purchasing an additional 1,875 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Acushnet during the second quarter worth $257,000. 48.77% of the stock is currently owned by institutional investors and hedge funds.

NYSE GOLF opened at $49.75 on Tuesday. The company has a fifty day moving average of $51.22 and a two-hundred day moving average of $48.34. Acushnet Holdings Corp. has a 1 year low of $32.42 and a 1 year high of $56.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.44 and a quick ratio of 1.73. The company has a market capitalization of $3.68 billion, a PE ratio of 14.90 and a beta of 0.77.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, August 4th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.32. Acushnet had a net margin of 11.89% and a return on equity of 24.27%. The business had revenue of $624.90 million during the quarter, compared to analysts’ expectations of $530.90 million. During the same period in the prior year, the company earned $0.03 earnings per share. The business’s revenue was up 108.3% compared to the same quarter last year. On average, research analysts expect that Acushnet Holdings Corp. will post 2.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.33%. Acushnet’s payout ratio is 38.15%.

A number of equities analysts recently commented on the stock. Roth Capital boosted their target price on shares of Acushnet from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Truist boosted their target price on shares of Acushnet from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, June 25th. KeyCorp boosted their target price on shares of Acushnet from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, August 9th. Morgan Stanley boosted their target price on shares of Acushnet from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 28th. Finally, Zacks Investment Research upgraded shares of Acushnet from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday, August 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Acushnet has a consensus rating of “Buy” and an average target price of $53.29.

Acushnet Profile

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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