Acushnet $GOLF Shares Sold by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC lessened its stake in Acushnet (NYSE:GOLF) by 47.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,664 shares of the company’s stock after selling 55,744 shares during the quarter. Acushnet comprises approximately 0.8% of 12th Street Asset Management Company LLC’s holdings, making the stock its 28th biggest holding. 12th Street Asset Management Company LLC owned approximately 0.11% of Acushnet worth $4,840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Public Sector Pension Investment Board grew its position in Acushnet by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock valued at $8,437,000 after acquiring an additional 17,319 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Acushnet by 3.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 14,205 shares of the company’s stock worth $1,115,000 after acquiring an additional 410 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of Acushnet by 2.5% during the third quarter. Azzad Asset Management Inc. ADV now owns 14,245 shares of the company’s stock worth $1,118,000 after purchasing an additional 341 shares during the period. Bessemer Group Inc. lifted its position in shares of Acushnet by 313.2% in the 3rd quarter. Bessemer Group Inc. now owns 2,376 shares of the company’s stock worth $186,000 after buying an additional 1,801 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Acushnet in the 3rd quarter worth about $175,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOLF shares. KeyCorp reissued a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th. Zacks Research raised shares of Acushnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. Truist Financial upped their target price on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and increased their price target for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Acushnet presently has a consensus rating of “Hold” and an average price target of $87.83.

Acushnet Price Performance

GOLF stock opened at $99.95 on Friday. Acushnet has a 12-month low of $55.31 and a 12-month high of $104.81. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The company’s fifty day simple moving average is $89.39 and its 200 day simple moving average is $82.48. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 27.31 and a beta of 0.89.

Insider Activity

In related news, 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 transaction of $1,693,200.00. Following the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 53.60% of the stock is owned by insiders.

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.