SG Americas Securities LLC Lowers Stock Position in Acushnet $GOLF

SG Americas Securities LLC cut its stake in shares of Acushnet (NYSE:GOLF) by 29.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,412 shares of the company’s stock after selling 6,549 shares during the quarter. SG Americas Securities LLC’s holdings in Acushnet were worth $1,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GOLF. Brown Brothers Harriman & Co. increased its holdings in shares of Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after buying an additional 261 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Acushnet during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after acquiring an additional 295 shares during the last quarter. Allworth Financial LP grew its position in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after acquiring an additional 184 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Acushnet by 416.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 635 shares of the company’s stock worth $50,000 after acquiring an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction on Wednesday, May 27th. The shares were 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 $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider owned 2,868 shares of the company’s stock, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 53.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GOLF shares. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Truist Financial upped their price objective on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. upped their price objective on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Roth Mkm set a $87.00 price objective on Acushnet in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.83.

Acushnet Stock Up 0.0%

Shares of NYSE:GOLF opened at $117.61 on Friday. The stock has a market capitalization of $6.89 billion, a P/E ratio of 41.41 and a beta of 0.80. The stock’s 50-day moving average price is $96.71 and its 200-day moving average price is $94.64. 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 has a 12-month low of $73.09 and a 12-month high of $119.36.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The company had revenue of $752.98 million during the quarter, compared to the consensus estimate of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.62 EPS. On average, equities analysts anticipate that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet’s dividend payout ratio is 35.92%.

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.