Cerity Partners LLC Purchases Shares of 8,130 Acushnet Holdings Corp. (NYSE:GOLF)

Cerity Partners LLC purchased a new position in Acushnet Holdings Corp. (NYSE:GOLF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,130 shares of the company’s stock, valued at approximately $518,000.

Several other institutional investors have also recently made changes to their positions in GOLF. Wedbush Securities Inc. raised its stake in Acushnet by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after acquiring an additional 176 shares during the period. SkyView Investment Advisors LLC raised its position in shares of Acushnet by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in shares of Acushnet by 2.0% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock valued at $652,000 after buying an additional 204 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Acushnet by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after buying an additional 260 shares during the period. Finally, Creative Planning increased its stake in Acushnet by 5.1% in the 2nd quarter. Creative Planning now owns 7,194 shares of the company’s stock worth $457,000 after buying an additional 349 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Acushnet Trading Down 0.7 %

Shares of GOLF stock opened at $74.21 on Friday. The stock’s 50-day moving average price is $66.60 and its 200-day moving average price is $65.92. Acushnet Holdings Corp. has a 12-month low of $56.34 and a 12-month high of $76.38. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 25.24 and a beta of 0.88. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million for the quarter, compared to analysts’ expectations of $620.40 million. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.16%. Acushnet’s payout ratio is currently 29.25%.

Analysts Set New Price Targets

GOLF has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial boosted their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Acushnet presently has a consensus rating of “Hold” and a consensus price target of $71.40.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 54.60% of the company’s stock.

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.