Jane Street Group LLC Has $32.43 Million Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Jane Street Group LLC lifted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 702.1% during the third quarter, HoldingsChannel reports. The fund owned 508,705 shares of the company’s stock after purchasing an additional 445,281 shares during the quarter. Jane Street Group LLC’s holdings in Acushnet were worth $32,430,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brown Lisle Cummings Inc. bought a new stake in Acushnet in the third quarter worth $40,000. Prospera Private Wealth LLC bought a new stake in Acushnet in the third quarter worth $41,000. nVerses Capital LLC bought a new stake in Acushnet in the third quarter worth $57,000. Quarry LP boosted its holdings in Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after purchasing an additional 932 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Acushnet by 1,719.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after purchasing an additional 1,152 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Down 0.5 %

GOLF stock opened at $74.21 on Monday. 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 52-week low of $56.34 and a 52-week high of $76.38. The company has a 50-day moving average of $66.60 and a two-hundred day moving average of $65.94. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 25.24 and a beta of 0.88.

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

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, December 6th. Acushnet’s payout ratio is presently 29.25%.

Insider Buying and Selling

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GOLF shares. Truist Financial upped their price objective on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $71.40.

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.