Cwm LLC Cuts Position in Acushnet Holdings Corp. (NYSE:GOLF)

Cwm LLC lessened its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,149 shares of the company’s stock after selling 788 shares during the quarter. Cwm LLC’s holdings in Acushnet were worth $838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOLF. New Covenant Trust Company N.A. purchased a new stake in Acushnet in the first quarter worth about $27,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Acushnet by 101.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after buying an additional 585 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Acushnet in the second quarter worth approximately $83,000. Crestwood Advisors Group LLC bought a new position in shares of Acushnet in the second quarter worth approximately $200,000. Finally, Algert Global LLC bought a new position in shares of Acushnet in the second quarter worth approximately $203,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Trading Down 3.5 %

Shares of GOLF stock opened at $62.28 on Friday. 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 stock’s 50 day simple moving average is $64.84 and its two-hundred day simple moving average is $64.69. The company has a market cap of $3.93 billion, a PE ratio of 21.62 and a beta of 0.84.

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

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.215 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.38%. Acushnet’s payout ratio is 29.86%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOLF. Compass Point dropped their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Truist Financial increased their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.43.

Insider Buying and Selling

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 54.60% of the stock is owned by insiders.

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.