Brown Lisle Cummings Inc. Invests $40,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 625 shares of the company’s stock, valued at approximately $40,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after buying an additional 15,088 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after buying an additional 889,515 shares during the period. Raymond James & Associates boosted its stake in shares of Acushnet by 0.9% in the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock valued at $29,714,000 after buying an additional 4,300 shares during the period. Tributary Capital Management LLC boosted its stake in shares of Acushnet by 0.3% in the second quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock valued at $16,909,000 after buying an additional 791 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Acushnet by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company’s stock valued at $15,264,000 after buying an additional 4,644 shares during the period. Institutional investors own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and cut their price target for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial boosted their price target on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Compass Point cut their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.43.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Down 0.7 %

NYSE GOLF opened at $61.88 on Tuesday. The business has a fifty day moving average price of $64.75 and a two-hundred day moving average price of $64.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. Acushnet Holdings Corp. has a fifty-two week low of $49.42 and a fifty-two week high of $74.77. The stock has a market capitalization of $3.90 billion, a PE ratio of 21.49 and a beta of 0.84.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. Equities analysts expect that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.39%. Acushnet’s dividend payout ratio (DPR) is presently 29.86%.

Acushnet Company Profile

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.