12th Street Asset Management Company LLC Lowers Position in Acushnet $GOLF

12th Street Asset Management Company LLC cut its stake in shares of Acushnet (NYSE:GOLF) by 47.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,664 shares of the company’s stock after selling 55,744 shares during the period. Acushnet comprises approximately 0.8% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 28th largest holding. 12th Street Asset Management Company LLC’s holdings in Acushnet were worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. boosted its holdings in shares of Acushnet by 0.4% in the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after buying an additional 4,243 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Acushnet by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock valued at $48,227,000 after purchasing an additional 5,009 shares during the period. Tributary Capital Management LLC grew its position in Acushnet by 92.6% during the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after buying an additional 219,895 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after purchasing an additional 110,245 shares in the last quarter. Finally, Norges Bank purchased a new position in Acushnet in the 2nd quarter worth approximately $20,963,000. Institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the transaction, the insider owned 76,006 shares of the company’s stock, valued at $6,434,667.96. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on GOLF. JPMorgan Chase & Co. upgraded Acushnet from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. Morgan Stanley raised their target price on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Roth Mkm reissued a “neutral” rating and set a $80.00 price objective on shares of Acushnet in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Acushnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.83.

Acushnet Price Performance

NYSE:GOLF opened at $99.95 on Friday. The business’s 50-day simple moving average is $89.39 and its two-hundred day simple moving average is $82.48. 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 has a 52 week low of $55.31 and a 52 week high of $104.81. The stock has a market cap of $5.86 billion, a PE ratio of 27.31 and a beta of 0.89.

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.