Wedbush Securities Inc. Raises Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Wedbush Securities Inc. boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,535 shares of the company’s stock after purchasing an additional 176 shares during the period. Wedbush Securities Inc.’s holdings in Acushnet were worth $224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOLF. Victory Capital Management Inc. grew its stake in shares of Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after purchasing an additional 889,515 shares during the last quarter. Norges Bank bought a new stake in shares of Acushnet in the 4th quarter worth approximately $21,945,000. Edgestream Partners L.P. purchased a new position in shares of Acushnet during the first quarter valued at approximately $8,754,000. Eagle Asset Management Inc. bought a new position in shares of Acushnet during the fourth quarter valued at approximately $7,673,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Acushnet in the first quarter worth $2,026,000. Institutional investors own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Compass Point reduced their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Truist Financial raised their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.17.

Insider Activity

In related news, Director Holdings Corp. Fila sold 587,520 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the transaction, the director now owns 32,522,966 shares in the company, valued at approximately $2,075,940,919.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Acushnet Trading Up 2.7 %

Shares of NYSE GOLF opened at $66.11 on Monday. Acushnet Holdings Corp. has a 1 year low of $49.42 and a 1 year high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The firm has a 50-day moving average of $66.80 and a 200 day moving average of $64.83. The stock has a market cap of $4.09 billion, a P/E ratio of 22.95 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The business had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. Acushnet’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. As a group, sell-side analysts expect that Acushnet Holdings Corp. will post 3.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.30%. Acushnet’s dividend payout ratio is currently 29.86%.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.