Rhumbline Advisers Lowers Position in Acushnet Holdings Corp. (NYSE:GOLF)

Rhumbline Advisers decreased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,307 shares of the company’s stock after selling 764 shares during the quarter. Rhumbline Advisers’ holdings in Acushnet were worth $2,876,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crestwood Advisors Group LLC acquired a new stake in Acushnet in the second quarter valued at approximately $200,000. Farther Finance Advisors LLC lifted its holdings in Acushnet by 7,290.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,543 shares of the company’s stock valued at $340,000 after purchasing an additional 5,468 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in Acushnet by 7.7% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 10,017 shares of the company’s stock valued at $636,000 after purchasing an additional 712 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Acushnet by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company’s stock worth $15,264,000 after purchasing an additional 4,644 shares during the last quarter. Finally, Tributary Capital Management LLC grew its holdings in shares of Acushnet by 0.3% during the second quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock worth $16,909,000 after buying an additional 791 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Down 0.1 %

Shares of NYSE GOLF opened at $63.32 on Thursday. The company has a market capitalization of $3.99 billion, a P/E ratio of 21.99 and a beta of 0.85. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The company has a 50 day simple moving average of $67.00 and a 200-day simple moving average of $64.79. Acushnet Holdings Corp. has a 1 year low of $49.42 and a 1 year high of $74.77.

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

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.215 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.36%. Acushnet’s dividend payout ratio is currently 29.86%.

Insiders Place Their Bets

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.60% of the stock is owned by insiders.

Analysts Set New Price Targets

GOLF has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial raised their target price on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Compass Point dropped their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $86.00 to $75.00 in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Acushnet has an average rating of “Hold” and an average target price of $67.43.

Acushnet 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.