Acushnet (NYSE:GOLF) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Acushnet (NYSE:GOLF) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,351 shares of the company’s stock after selling 1,818 shares during the period. Envestnet Asset Management Inc. owned approximately 0.38% of Acushnet worth $15,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Acushnet by 6.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company’s stock worth $240,000 after buying an additional 203 shares during the last quarter. Heritage Family Offices LLP lifted its position in Acushnet by 7.4% during the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company’s stock worth $212,000 after buying an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Acushnet by 1.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company’s stock worth $1,144,000 after buying an additional 213 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Acushnet by 1.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company’s stock worth $953,000 after buying an additional 217 shares during the period. Finally, Berry Wealth Group LP lifted its position in Acushnet by 8.0% during the first quarter. Berry Wealth Group LP now owns 3,075 shares of the company’s stock worth $211,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Activity

In other news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director directly owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 53.60% of the company’s stock.

Acushnet Trading Up 2.8%

NYSE:GOLF opened at $80.37 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $72.45 and its two-hundred day moving average is $68.48. Acushnet has a 52 week low of $55.31 and a 52 week high of $80.70. The company has a market cap of $4.72 billion, a PE ratio of 22.33 and a beta of 0.84.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. On average, analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, June 6th. Acushnet’s payout ratio is currently 26.11%.

Analyst Upgrades and Downgrades

GOLF has been the subject of several research analyst reports. Truist Financial upped their price target on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Compass Point lowered Acushnet from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $71.00 in a research note on Monday, May 5th. Finally, KeyCorp reiterated an “overweight” rating and issued a $80.00 target price (up previously from $75.00) on shares of Acushnet in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.