Acushnet $GOLF Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Acushnet (NYSE:GOLF) by 150.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,633 shares of the company’s stock after purchasing an additional 982 shares during the quarter. GAMMA Investing LLC’s holdings in Acushnet were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in GOLF. Public Employees Retirement System of Ohio purchased a new stake in shares of Acushnet in the fourth quarter worth approximately $31,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Acushnet in the fourth quarter worth approximately $233,000. Rhumbline Advisers lifted its position in shares of Acushnet by 89.6% in the first quarter. Rhumbline Advisers now owns 78,007 shares of the company’s stock worth $5,356,000 after purchasing an additional 36,865 shares in the last quarter. Heritage Family Offices LLP lifted its position in shares of Acushnet by 7.4% in the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company’s stock worth $212,000 after purchasing an additional 212 shares in the last quarter. Finally, Impact Capital Partners LLC lifted its position in shares of Acushnet by 6.8% in the first quarter. Impact Capital Partners LLC now owns 11,991 shares of the company’s stock worth $823,000 after purchasing an additional 766 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, KeyCorp raised their price objective on shares of Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.00.

Acushnet Trading Up 1.7%

Shares of GOLF stock opened at $78.56 on Wednesday. Acushnet has a 12 month low of $55.31 and a 12 month high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $77.45 and its two-hundred day moving average is $71.92. The company has a market cap of $4.61 billion, a PE ratio of 21.01 and a beta of 0.90.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The company had revenue of $720.48 million for the quarter, compared to analyst estimates of $713.70 million. During the same quarter last year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, September 5th. Acushnet’s dividend payout ratio (DPR) is 25.13%.

Insider Activity at Acushnet

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

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.