Cetera Investment Advisers Buys 374 Shares of Acushnet $GOLF

Cetera Investment Advisers increased its stake in Acushnet (NYSE:GOLF) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,965 shares of the company’s stock after purchasing an additional 374 shares during the period. Cetera Investment Advisers’ holdings in Acushnet were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOLF. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Acushnet during the first quarter valued at approximately $629,000. Praxis Investment Management Inc. purchased a new position in shares of Acushnet in the 1st quarter worth about $290,000. Cambridge Investment Research Advisors Inc. increased its holdings in Acushnet by 6.2% in 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 in the last quarter. SG Americas Securities LLC grew its stake in shares of Acushnet by 783.2% during the 1st quarter. SG Americas Securities LLC now owns 17,391 shares of the company’s stock valued at $1,194,000 after purchasing an additional 15,422 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Acushnet by 89.6% during the 1st quarter. Rhumbline Advisers now owns 78,007 shares of the company’s stock valued at $5,356,000 after purchasing an additional 36,865 shares during the period. 53.12% of the stock is currently owned by institutional investors.

Insider Activity at Acushnet

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the transaction, the insider owned 191,786 shares of the company’s stock, valued at approximately $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Holdings Corp. Misto sold 953,406 shares of the business’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total value of $62,505,297.36. Following the transaction, the director directly owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOLF shares. Morgan Stanley upped their price target on Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. KeyCorp increased their price target on Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Truist Financial raised their price target on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Compass Point lowered Acushnet from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $71.00 in a research note on Monday, May 5th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.33.

Acushnet Trading Down 0.2%

Shares of NYSE:GOLF opened at $78.1980 on Thursday. The company has a market capitalization of $4.59 billion, a PE ratio of 20.91 and a beta of 0.84. Acushnet has a 12-month low of $55.31 and a 12-month high of $84.40. The business has a 50 day moving average of $76.91 and a two-hundred day moving average of $69.90. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.08). The business had revenue of $720.48 million during the quarter, compared to analysts’ expectations of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. As a group, analysts forecast that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet’s payout ratio is presently 25.13%.

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.