Acushnet $GOLF Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its position in shares of Acushnet (NYSE:GOLF) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,961 shares of the company’s stock after selling 37,234 shares during the quarter. SG Americas Securities LLC’s holdings in Acushnet were worth $1,753,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in Acushnet by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after acquiring an additional 140 shares in the last quarter. GAMMA Investing LLC lifted its position in Acushnet by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $149,000 after acquiring an additional 144 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in Acushnet by 0.3% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock valued at $3,630,000 after purchasing an additional 148 shares during the period. Allworth Financial LP boosted its position in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after acquiring an additional 184 shares during the period. Finally, Amalgamated Bank raised its position in shares of Acushnet by 3.4% during the third quarter. Amalgamated Bank now owns 7,847 shares of the company’s stock valued at $616,000 after buying an additional 259 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Price Performance

Shares of GOLF stock opened at $93.90 on Monday. Acushnet has a twelve month low of $55.31 and a twelve month 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. The company has a market cap of $5.50 billion, a P/E ratio of 30.29 and a beta of 0.92. The business has a fifty day simple moving average of $96.92 and a 200 day simple moving average of $87.31.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The firm had revenue of $477.22 million during the quarter, compared to the consensus estimate of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. Acushnet’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share. On average, sell-side analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a dividend of $0.255 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, March 6th. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is presently 32.90%.

Insider Transactions at Acushnet

In related news, Director Gregory A. Hewett sold 4,206 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the sale, the director directly owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price objective on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. UBS Group set a $100.00 price target on shares of Acushnet in a research report on Thursday, February 26th. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. upgraded shares of Acushnet from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $74.00 to $96.00 in a report on Friday, January 23rd. Nine research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $89.57.

Acushnet Company 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.