Virtu Financial LLC Purchases Shares of 7,980 Acushnet $GOLF

Virtu Financial LLC purchased a new stake in shares of Acushnet (NYSE:GOLF) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 7,980 shares of the company’s stock, valued at approximately $637,000.

Several other institutional investors have also recently made changes to their positions in GOLF. Oregon Public Employees Retirement Fund boosted its stake in Acushnet by 1.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock valued at $503,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Acushnet by 3.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Acushnet by 2.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock valued at $461,000 after acquiring an additional 135 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Acushnet by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after acquiring an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Acushnet by 8.4% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $149,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares in the company, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the sale, the insider directly owned 2,868 shares of the company’s stock, valued at $272,460. This trade represents a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 53.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group set a $100.00 price objective on shares of Acushnet in a research report on Thursday, February 26th. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Truist Financial boosted their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Finally, Roth Mkm set a $87.00 price objective on shares of Acushnet in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $94.17.

Acushnet Price Performance

GOLF opened at $106.81 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $6.25 billion, a P/E ratio of 37.61 and a beta of 0.85. The stock has a 50-day moving average price of $93.62 and a 200-day moving average price of $92.74. Acushnet has a 12-month low of $70.37 and a 12-month high of $108.66.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Equities analysts predict that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. Acushnet’s dividend payout ratio (DPR) is 35.92%.

Acushnet Company 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.