SG Americas Securities LLC Purchases 56,212 Shares of Acushnet $GOLF

SG Americas Securities LLC lifted its position in shares of Acushnet (NYSE:GOLF) by 1,884.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,195 shares of the company’s stock after purchasing an additional 56,212 shares during the quarter. SG Americas Securities LLC owned 0.10% of Acushnet worth $4,646,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOLF. Raymond James Financial Inc. increased its stake in Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after purchasing an additional 4,243 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Acushnet by 0.8% during the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock valued at $48,227,000 after buying an additional 5,009 shares during the last quarter. Bank of America Corp DE increased its position in shares of Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after acquiring an additional 110,245 shares in the last quarter. Norges Bank bought a new stake in shares of Acushnet during the second quarter worth about $20,963,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Acushnet by 39.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after acquiring an additional 70,095 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

Insider Transactions at Acushnet

In related news, CEO David Eugene Maher sold 26,939 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $79.33, for a total value of $2,137,070.87. Following the transaction, the chief executive officer owned 852,092 shares in the company, valued at approximately $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 71,460 shares of company stock worth $5,786,311. Corporate insiders own 53.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLF has been the subject of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Roth Capital restated a “neutral” rating and issued a $80.00 target price on shares of Acushnet in a report on Thursday, November 6th. JPMorgan Chase & Co. upped their price target on Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a report on Monday, December 15th. KeyCorp increased their price target on Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Truist Financial lifted their price objective on shares of Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $78.17.

Acushnet Stock Performance

Shares of Acushnet stock opened at $87.29 on Monday. The business’s fifty day simple moving average is $82.22 and its 200 day simple moving average is $79.54. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. Acushnet has a 12 month low of $55.31 and a 12 month high of $88.35. The firm has a market capitalization of $5.12 billion, a P/E ratio of 23.85 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. As a group, analysts anticipate that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.94 annualized dividend and a yield of 1.1%. Acushnet’s payout ratio is currently 25.68%.

Acushnet Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.