Cerity Partners LLC Purchases Shares of 9,052 Acushnet Holdings Corp. (NYSE:GOLF)

Cerity Partners LLC bought a new position in Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,052 shares of the company’s stock, valued at approximately $572,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOLF. FSC Wealth Advisors LLC bought a new position in shares of Acushnet in the third quarter worth approximately $37,000. First Horizon Advisors Inc. lifted its stake in Acushnet by 43.3% in the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock worth $38,000 after acquiring an additional 215 shares during the period. GW Henssler & Associates Ltd. purchased a new stake in Acushnet in the third quarter worth $201,000. O Shaughnessy Asset Management LLC purchased a new stake in Acushnet in the third quarter worth $224,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Acushnet in the third quarter worth $229,000. Institutional investors own 53.12% of the company’s stock.

Insider Buying and Selling

In related news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $64.32, for a total value of $1,093,440.00. Following the completion of the sale, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the completion of the sale, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the transaction, the insider now directly owns 58,588 shares in the company, valued at $3,778,340.12. The disclosure for this sale can be found here. 54.10% of the stock is owned by corporate insiders.

Acushnet Price Performance

GOLF opened at $63.14 on Thursday. The stock has a 50-day moving average price of $64.56 and a 200-day moving average price of $61.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 0.84. The firm has a market cap of $4.00 billion, a PE ratio of 21.85 and a beta of 0.87. Acushnet Holdings Corp. has a 1 year low of $43.62 and a 1 year high of $70.10.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business had revenue of $413.00 million during the quarter, compared to the consensus estimate of $429.16 million. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts predict that Acushnet Holdings Corp. will post 3.17 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.36%. This is an increase from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 7th. Acushnet’s dividend payout ratio (DPR) is presently 29.76%.

Wall Street Analysts Forecast Growth

GOLF has been the subject of a number of research analyst reports. Truist Financial raised their price target on Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, January 9th. KeyCorp raised their price target on Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.71.

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.