Fieldview Capital Management LLC Acquires Shares of 9,206 Acushnet $GOLF

Fieldview Capital Management LLC acquired a new stake in shares of Acushnet (NYSE:GOLF) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,206 shares of the company’s stock, valued at approximately $723,000.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after acquiring an additional 295 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Acushnet by 197.5% in the third quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock worth $47,000 after purchasing an additional 397 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Acushnet in the second quarter worth about $100,000. Smartleaf Asset Management LLC grew its holdings in Acushnet by 37.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the company’s stock valued at $120,000 after buying an additional 449 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in Acushnet in the 3rd quarter worth approximately $168,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Weiss Ratings cut shares of Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a research report on Thursday, March 5th. Morgan Stanley lifted their price target on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Truist Financial upped their price objective on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Nine research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $89.57.

Acushnet Stock Down 0.2%

Shares of NYSE:GOLF opened at $95.52 on Wednesday. The business’s 50 day moving average is $95.17 and its 200 day moving average is $85.18. The stock has a market cap of $5.59 billion, a P/E ratio of 30.81 and a beta of 0.88. Acushnet has a 52-week low of $55.31 and a 52-week high of $104.81. The company has a quick ratio of 0.97, a current ratio of 2.38 and a debt-to-equity ratio of 1.18.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The firm had revenue of $477.22 million for the quarter, compared to the consensus estimate of $453.59 million. During the same period last year, the firm earned ($0.02) earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio (DPR) is currently 32.90%.

Insider Transactions at Acushnet

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the transaction, the director owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. This trade represents a 10.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 53.60% of the stock is currently 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.