Rhumbline Advisers Trims Position in Acushnet Holdings Corp. (NYSE:GOLF)

Rhumbline Advisers trimmed its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,307 shares of the company’s stock after selling 764 shares during the period. Rhumbline Advisers owned about 0.07% of Acushnet worth $2,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in Acushnet during the 1st quarter worth about $27,000. Principal Securities Inc. bought a new position in shares of Acushnet during the fourth quarter valued at approximately $37,000. TFO Wealth Partners LLC increased its holdings in Acushnet by 64,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 646 shares of the company’s stock valued at $410,000 after buying an additional 645 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after buying an additional 585 shares during the period. Finally, Crestwood Advisors Group LLC bought a new position in Acushnet in the second quarter worth approximately $200,000. 53.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOLF has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Compass Point dropped their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and cut their target price for the company from $86.00 to $75.00 in a research note on Tuesday. Finally, Truist Financial increased their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus target price of $67.43.

Insider Activity

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

Acushnet Trading Down 0.1 %

Acushnet stock opened at $63.32 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. The stock has a market cap of $3.99 billion, a PE ratio of 21.99 and a beta of 0.85. The stock has a 50-day moving average of $67.00 and a two-hundred day moving average of $64.79. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $683.90 million during 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%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. On average, research analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.215 per share. The ex-dividend date is Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.36%. Acushnet’s 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.