SG Americas Securities LLC Purchases 56,212 Shares of Acushnet $GOLF

SG Americas Securities LLC raised its holdings in shares of Acushnet (NYSE:GOLF) by 1,884.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,195 shares of the company’s stock after purchasing an additional 56,212 shares during the quarter. SG Americas Securities LLC’s holdings in Acushnet were worth $4,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its position in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the period. Nisa Investment Advisors LLC grew its stake in Acushnet by 83.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after buying an additional 246 shares in the last quarter. Bessemer Group Inc. grew its stake in Acushnet by 78.6% in the 2nd quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock valued at $42,000 after buying an additional 253 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Acushnet during the 2nd quarter valued at $100,000. Finally, GAMMA Investing LLC lifted its position in shares of Acushnet by 150.8% during the second quarter. GAMMA Investing LLC now owns 1,633 shares of the company’s stock worth $119,000 after acquiring an additional 982 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of NYSE GOLF opened at $87.29 on Monday. The stock’s 50-day simple moving average is $82.22 and its two-hundred day simple moving average is $79.54. Acushnet has a twelve month low of $55.31 and a twelve month high of $88.35. The firm has a market capitalization of $5.12 billion, a P/E ratio of 23.85 and a beta of 0.88. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. As a group, equities analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Acushnet’s payout ratio is currently 25.68%.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the completion of the sale, the insider owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Eugene Maher sold 26,939 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the transaction, the chief executive officer directly owned 852,092 shares in the company, valued at $67,596,458.36. This trade represents a 3.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 71,460 shares of company stock valued at $5,786,311. Corporate insiders own 53.60% of the company’s stock.

Analyst Ratings Changes

GOLF has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a research report on Monday, December 15th. Truist Financial raised their target price on Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a report on Wednesday, October 8th. KeyCorp increased their price target on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Roth Capital restated a “neutral” rating and issued a $80.00 price objective on shares of Acushnet in a research report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $78.17.

About Acushnet

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.