18,458 Shares in Acushnet $GOLF Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new position in Acushnet (NYSE:GOLF) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 18,458 shares of the company’s stock, valued at approximately $1,344,000.

Several other institutional investors have also added to or reduced their stakes in GOLF. Fisher Asset Management LLC boosted its holdings in Acushnet by 35.1% during the 2nd quarter. Fisher Asset Management LLC now owns 208,357 shares of the company’s stock valued at $15,173,000 after acquiring an additional 54,088 shares during the period. Edgestream Partners L.P. lifted its position in Acushnet by 8.8% in the second quarter. Edgestream Partners L.P. now owns 95,389 shares of the company’s stock valued at $6,946,000 after purchasing an additional 7,708 shares during the last quarter. Norges Bank purchased a new stake in shares of Acushnet during the second quarter valued at approximately $20,963,000. Mayfair Advisory Group LLC purchased a new stake in shares of Acushnet during the second quarter valued at approximately $205,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Acushnet in the second quarter worth approximately $100,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

Shares of GOLF opened at $83.55 on Tuesday. The company has a 50-day simple moving average of $79.78 and a two-hundred day simple moving average of $76.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The firm has a market capitalization of $4.90 billion, a PE ratio of 22.83 and a beta of 0.89. Acushnet has a one year low of $55.31 and a one year high of $85.95.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $657.66 million during the quarter, compared to the consensus estimate of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 EPS. Acushnet has set its FY 2025 guidance at EPS. On average, analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.94 annualized dividend and a yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is currently 25.68%.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the insider directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the completion of the transaction, the chief executive officer owned 852,092 shares of the company’s stock, valued at approximately $67,596,458.36. The trade was a 3.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 71,460 shares of company stock worth $5,786,311. Company insiders own 53.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. KeyCorp upped their price target on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. 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. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Finally, Truist Financial upped their price target on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.50.

About Acushnet

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.