SG Americas Securities LLC Cuts Stake in Acushnet $GOLF

SG Americas Securities LLC lessened its stake in shares of Acushnet (NYSE:GOLF) by 29.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,412 shares of the company’s stock after selling 6,549 shares during the period. SG Americas Securities LLC’s holdings in Acushnet were worth $1,441,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Research Global Investors boosted its stake in Acushnet by 8.5% in the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after acquiring an additional 115,000 shares during the last quarter. Morgan Stanley grew its position in shares of Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after acquiring an additional 251,889 shares during the period. Raymond James Financial Inc. increased its stake in shares of Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after purchasing an additional 4,243 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Acushnet by 31.8% during the 2nd 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 during the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its stake in shares of Acushnet by 51.7% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock worth $30,685,000 after purchasing an additional 130,990 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the 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 sale, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. This represents a 17.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of the business’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 transaction, the insider owned 2,868 shares of the company’s stock, valued at $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 53.30% of the company’s stock.

Acushnet Stock Performance

Shares of GOLF opened at $117.61 on Friday. Acushnet has a 52-week low of $73.09 and a 52-week high of $119.36. The stock’s 50-day simple moving average is $96.71 and its 200 day simple moving average is $94.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 41.41 and a beta of 0.80.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $722.48 million. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors 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 yield of 0.9%. Acushnet’s payout ratio is currently 35.92%.

Analyst Ratings Changes

Several research firms recently commented on GOLF. Roth Mkm set a $87.00 price objective on Acushnet in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Finally, Truist Financial boosted their target price on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.83.

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.