Kestra Private Wealth Services LLC Purchases 1,156 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Kestra Private Wealth Services LLC increased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 28.2% in the fourth quarter, HoldingsChannel reports. The firm owned 5,262 shares of the company’s stock after purchasing an additional 1,156 shares during the period. Kestra Private Wealth Services LLC’s holdings in Acushnet were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in shares of Acushnet during the fourth quarter worth $32,000. First Horizon Advisors Inc. lifted its position in Acushnet by 43.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock worth $38,000 after buying an additional 215 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new stake in Acushnet during the 4th quarter worth about $216,000. O Shaughnessy Asset Management LLC acquired a new stake in Acushnet in the 3rd quarter valued at about $224,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Acushnet in the third quarter worth about $229,000. 53.12% of the stock is owned by institutional investors.

Insider Transactions at Acushnet

In related news, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total transaction of $580,410.00. Following the transaction, the insider now owns 58,588 shares of the company’s stock, valued at approximately $3,778,340.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brendan J. Reidy sold 9,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $64.49, for a total value of $580,410.00. Following the completion of the sale, the insider now owns 58,588 shares in the company, valued at approximately $3,778,340.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the insider now owns 130,472 shares in the company, valued at $8,391,959.04. The disclosure for this sale can be found here. Corporate insiders own 54.60% of the company’s stock.

Acushnet Trading Up 3.7 %

Shares of NYSE GOLF opened at $65.49 on Wednesday. Acushnet Holdings Corp. has a fifty-two week low of $43.62 and a fifty-two week high of $70.10. The firm has a market capitalization of $4.15 billion, a P/E ratio of 22.66 and a beta of 0.88. 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 company’s 50 day simple moving average is $63.50 and its 200 day simple moving average is $61.80.

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

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.215 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.86 dividend on an annualized basis and a yield of 1.31%. This is a boost from Acushnet’s previous quarterly dividend of $0.20. Acushnet’s dividend payout ratio (DPR) is 29.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOLF. KeyCorp increased their price target on shares of Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Truist Financial increased their price objective on Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.71.

Acushnet Company 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.