Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Cwm LLC

Cwm LLC cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 5.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,149 shares of the company’s stock after selling 788 shares during the period. Cwm LLC’s holdings in Acushnet were worth $838,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Acushnet in the 1st quarter worth about $27,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Acushnet by 101.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after buying an additional 585 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Acushnet in the 2nd quarter worth about $83,000. Crestwood Advisors Group LLC acquired a new stake in Acushnet in the 2nd quarter worth about $200,000. Finally, Algert Global LLC acquired a new stake in Acushnet in the 2nd quarter worth about $203,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOLF has been the topic of several recent research reports. Compass Point lowered their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and lowered their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial boosted their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.43.

Acushnet Stock Down 3.5 %

GOLF stock opened at $62.28 on Friday. The firm has a market cap of $3.93 billion, a PE ratio of 21.62 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. The firm’s 50 day moving average price is $64.84 and its 200-day moving average price is $64.69. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77.

Acushnet (NYSE:GOLF) last released 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 firm had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. On average, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s payout ratio is 29.86%.

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the business’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 sale, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.60% of the stock is owned by corporate insiders.

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.