Strategic Financial Concepts LLC Invests $1.27 Million in Acushnet Holdings Corp. (NYSE:GOLF)

Strategic Financial Concepts LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,912 shares of the company’s stock, valued at approximately $1,273,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after buying an additional 63,294 shares during the last quarter. FMR LLC grew its position in Acushnet by 2.5% in the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after acquiring an additional 10,762 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Acushnet in the third quarter worth $1,443,000. Tidal Investments LLC bought a new stake in shares of Acushnet during the third quarter worth $508,000. Finally, Raymond James & Associates boosted 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 valued at $29,714,000 after purchasing an additional 4,300 shares during the period. 53.12% of the stock is currently owned by institutional investors.

Insider Transactions at Acushnet

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the sale, the insider now owns 88,710 shares of the company’s stock, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GOLF shares. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Truist Financial lifted their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th.

Acushnet Stock Down 1.0 %

NYSE:GOLF opened at $63.90 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.65. The company has a 50-day moving average of $71.04 and a 200 day moving average of $67.90. The firm has a market cap of $3.89 billion, a PE ratio of 21.74 and a beta of 0.86.

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.