Acushnet (NYSE:GOLF) Shares Purchased by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its stake in Acushnet (NYSE:GOLF) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,499 shares of the company’s stock after acquiring an additional 203 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Acushnet were worth $240,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock worth $107,097,000 after purchasing an additional 5,661 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock worth $76,654,000 after purchasing an additional 54,314 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Acushnet during the fourth quarter worth $28,641,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Acushnet by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company’s stock worth $25,713,000 after purchasing an additional 2,793 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Acushnet by 8.7% during the fourth quarter. Northern Trust Corp now owns 354,169 shares of the company’s stock worth $25,174,000 after purchasing an additional 28,314 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Acushnet

In related news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the transaction, the director owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 53.60% of the stock is owned by corporate insiders.

Acushnet Stock Down 0.4%

GOLF stock opened at $77.96 on Monday. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $79.23. The firm’s 50-day simple moving average is $71.52 and its 200 day simple moving average is $68.23. The stock has a market cap of $4.58 billion, a PE ratio of 21.66 and a beta of 0.84.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.30. The firm had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. Acushnet’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. As a group, sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.21%. Acushnet’s dividend payout ratio is presently 26.11%.

Analyst Ratings Changes

A number of analysts have weighed in on GOLF shares. Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Acushnet in a report on Friday, June 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.00.

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.