Acushnet $GOLF Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in Acushnet (NYSE:GOLF) by 19.2% during the 3rd quarter, Holdings Channel reports. The fund owned 107,493 shares of the company’s stock after acquiring an additional 17,319 shares during the period. Public Sector Pension Investment Board’s holdings in Acushnet were worth $8,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Acushnet during the 2nd quarter worth about $20,963,000. Tributary Capital Management LLC raised its stake in Acushnet by 92.6% during the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after purchasing an additional 219,895 shares during the period. Bank of America Corp DE boosted its holdings in shares of Acushnet by 31.8% in the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after purchasing an additional 110,245 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Acushnet by 489.1% in the 2nd quarter. American Century Companies Inc. now owns 122,185 shares of the company’s stock valued at $8,898,000 after purchasing an additional 101,443 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Acushnet by 51.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 223,282 shares of the company’s stock valued at $16,259,000 after buying an additional 75,663 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of GOLF opened at $99.62 on Wednesday. Acushnet has a 12 month low of $55.31 and a 12 month high of $104.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The stock has a fifty day moving average price of $90.36 and a 200 day moving average price of $82.92. The company has a market cap of $5.84 billion, a P/E ratio of 27.22 and a beta of 0.89.

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total value of $1,693,200.00. Following the sale, the insider owned 76,006 shares in the company, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 53.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOLF. Zacks Research raised Acushnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. Roth Mkm reiterated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and upped their price target for the company from $74.00 to $96.00 in a report on Friday, January 23rd. Finally, Truist Financial raised their price objective on shares of Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.83.

Acushnet Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.