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

Strategic Financial Concepts LLC bought a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, Holdings Channel reports. The institutional investor bought 17,912 shares of the company’s stock, valued at approximately $1,273,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after purchasing an additional 176 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in Acushnet in the 3rd quarter worth $40,000. Prospera Private Wealth LLC acquired a new stake in Acushnet during the 3rd quarter worth about $41,000. nVerses Capital LLC acquired a new position in shares of Acushnet in the third quarter valued at about $57,000. Finally, Quarry LP raised its stake in shares of 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 during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Acushnet Stock Down 1.0 %

GOLF stock opened at $63.90 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average of $71.04 and a two-hundred day moving average of $67.90. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 21.74 and a beta of 0.86. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65.

Insiders Place Their Bets

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the business’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 directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 54.60% of the stock is owned by insiders.

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.