OneDigital Investment Advisors LLC bought a new stake in Acushnet (NYSE:GOLF – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm bought 12,504 shares of the company’s stock, valued at approximately $1,482,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in Acushnet by 13.2% during the second quarter. Versant Capital Management Inc now owns 788 shares of the company’s stock worth $93,000 after purchasing an additional 92 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Acushnet by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock valued at $503,000 after purchasing an additional 100 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Acushnet by 1.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock valued at $1,090,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Acushnet by 3.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock valued at $336,000 after buying an additional 133 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Acushnet by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.
Insider Transactions at Acushnet
In other news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is owned by company insiders.
Acushnet Price Performance
Acushnet (NYSE:GOLF – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. The business had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, research analysts expect that Acushnet will post 3.99 EPS for the current fiscal year.
Acushnet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.255 per share. The ex-dividend date is Friday, September 4th. This represents a $1.02 annualized dividend and a yield of 1.1%. Acushnet’s dividend payout ratio is 27.79%.
Analyst Ratings Changes
GOLF has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday. Truist Financial upped their price target on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. increased their price target on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Roth Capital reissued a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $99.17.
View Our Latest Stock Analysis on Acushnet
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.
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