London Co. of Virginia Lowers Holdings in Acushnet $GOLF

London Co. of Virginia decreased its holdings in shares of Acushnet (NYSE:GOLFFree Report) by 3.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 407,979 shares of the company’s stock after selling 14,908 shares during the quarter. London Co. of Virginia’s holdings in Acushnet were worth $38,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sei Investments Co. grew its holdings in shares of Acushnet by 7.6% during the 1st quarter. Sei Investments Co. now owns 108,255 shares of the company’s stock worth $10,120,000 after purchasing an additional 7,604 shares during the period. Walleye Capital LLC purchased a new stake in Acushnet in the 1st quarter valued at about $340,000. State of Wyoming raised its holdings in Acushnet by 65.9% in the 1st quarter. State of Wyoming now owns 6,188 shares of the company’s stock valued at $578,000 after buying an additional 2,459 shares during the period. First Trust Advisors LP lifted its position in Acushnet by 0.6% in the first quarter. First Trust Advisors LP now owns 82,481 shares of the company’s stock valued at $7,710,000 after buying an additional 519 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Acushnet by 1.0% in the first quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company’s stock valued at $1,404,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Transactions at Acushnet

In related news, insider Nicholas N. Mohamed sold 529 shares of Acushnet stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider owned 2,868 shares in the company, valued at $272,460. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the transaction, the insider owned 70,512 shares of the company’s stock, valued at $6,434,925.12. This trade represents a 17.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 53.30% of the company’s stock.

Acushnet Trading Down 0.9%

NYSE:GOLF opened at $104.46 on Friday. The firm has a market cap of $6.12 billion, a PE ratio of 36.78 and a beta of 0.80. The stock has a fifty day moving average price of $102.71 and a 200 day moving average price of $97.68. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36.

Acushnet (NYSE:GOLFGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. During the same period in the previous year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Acushnet will post 3.75 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. Acushnet’s payout ratio is currently 35.92%.

Analyst Ratings Changes

Several equities analysts have recently commented on GOLF shares. Truist Financial upped their price objective on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Roth Capital set a $87.00 target price on Acushnet in a research report on Thursday, May 7th. Weiss Ratings upgraded Acushnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.83.

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About Acushnet

(Free Report)

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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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