Sei Investments Co. Has $6.49 Million Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Sei Investments Co. lifted its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,302 shares of the company’s stock after buying an additional 5,678 shares during the quarter. Sei Investments Co. owned about 0.16% of Acushnet worth $6,494,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Acushnet during the fourth quarter worth $21,945,000. Franklin Resources Inc. boosted its position in shares of Acushnet by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 20,815 shares of the company’s stock worth $1,315,000 after purchasing an additional 317 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Acushnet by 10.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,684 shares of the company’s stock valued at $359,000 after buying an additional 558 shares in the last quarter. Stifel Financial Corp raised its stake in Acushnet by 8.0% during the 4th quarter. Stifel Financial Corp now owns 156,027 shares of the company’s stock worth $9,856,000 after buying an additional 11,526 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Acushnet by 25.2% in the fourth quarter. Allianz Asset Management GmbH now owns 27,415 shares of the company’s stock valued at $1,732,000 after acquiring an additional 5,524 shares during the period. Institutional investors own 53.12% of the company’s stock.

Insider Activity

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares in the company, valued at $2,016,398,287.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GOLF shares. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and decreased their price target for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Compass Point decreased their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial raised their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.43.

Acushnet Trading Down 0.6 %

NYSE:GOLF opened at $63.75 on Tuesday. Acushnet Holdings Corp. has a 52 week low of $49.42 and a 52 week high of $74.77. The firm has a 50-day moving average price of $66.75 and a two-hundred day moving average price of $64.79. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 22.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The business had revenue of $683.90 million during the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. On average, 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 announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s payout ratio is 29.86%.

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.