Hyperion Capital Advisors LP Purchases New Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Hyperion Capital Advisors LP bought a new stake in Acushnet Holdings Corp. (NYSE:GOLF) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,900 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Acushnet during the 4th quarter worth approximately $62,713,000. Lord Abbett & CO. LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at about $28,641,000. Norges Bank acquired a new position in shares of Acushnet in the 4th quarter worth approximately $14,825,000. 12th Street Asset Management Company LLC raised its position in shares of Acushnet by 170.1% in the 4th quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company’s stock worth $8,592,000 after acquiring an additional 76,126 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after buying an additional 63,294 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

Acushnet Trading Down 0.5 %

NYSE:GOLF opened at $67.78 on Friday. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.65. The firm has a 50-day moving average price of $64.46 and a two-hundred day moving average price of $67.54. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 23.05 and a beta of 0.90. 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 (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $703.37 million for the quarter, compared to analysts’ expectations of $697.82 million. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.39%. Acushnet’s payout ratio is currently 26.11%.

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 54.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOLF has been the subject of a number of research analyst reports. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $71.00 in a research note on Monday, May 5th. KeyCorp boosted their target price on shares of Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Truist Financial raised their price target on shares of Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

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.