Acushnet $GOLF Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lessened its stake in Acushnet (NYSE:GOLF) by 47.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 7,662 shares of the company’s stock after selling 6,969 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Acushnet were worth $716,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GOLF. Kennedy Capital Management LLC increased its stake in shares of Acushnet by 11.5% during the fourth quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company’s stock worth $17,385,000 after purchasing an additional 22,424 shares in the last quarter. M&T Bank Corp lifted its stake in Acushnet by 668.1% in the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after buying an additional 139,060 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in Acushnet in the 3rd quarter worth about $5,382,000. Louisiana State Employees Retirement System purchased a new stake in Acushnet during the 1st quarter worth approximately $1,140,000. Finally, Capital Research Global Investors increased its stake in Acushnet by 8.5% during the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock worth $116,936,000 after buying an additional 115,000 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Trading Down 3.0%

GOLF traded down $3.43 on Friday, hitting $110.29. The company had a trading volume of 284,082 shares, compared to its average volume of 382,288. The company’s fifty day moving average price is $98.33 and its 200 day moving average price is $95.68. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65. 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 firm has a market cap of $6.46 billion, a P/E ratio of 38.83 and a beta of 0.80.

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

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOLF shares. Truist Financial lifted their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. Roth Capital set a $87.00 price objective on Acushnet in a report on Thursday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Weiss Ratings lowered shares of Acushnet from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Eight investment analysts have rated the stock with a Hold rating, According to MarketBeat, Acushnet currently has an average rating of “Hold” and a consensus target price of $97.83.

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction 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 transaction, the insider owned 70,512 shares in the company, valued at $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider directly owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 53.30% of the company’s stock.

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.