Intech Investment Management LLC Boosts Stock Position in Acushnet $GOLF

Intech Investment Management LLC grew its stake in shares of Acushnet (NYSE:GOLF) by 93.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,423 shares of the company’s stock after buying an additional 10,346 shares during the period. Intech Investment Management LLC’s holdings in Acushnet were worth $1,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOLF. Fisher Asset Management LLC lifted its position in shares of Acushnet by 238.0% during the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after buying an additional 495,794 shares in the last quarter. M&T Bank Corp lifted its position in shares of Acushnet by 668.1% during the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after buying an additional 139,060 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after buying an additional 110,245 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Acushnet by 69.4% during the 3rd quarter. Two Sigma Investments LP now owns 199,707 shares of the company’s stock valued at $15,675,000 after buying an additional 81,789 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position 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 in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Up 1.6%

NYSE GOLF opened at $89.17 on Friday. The stock’s 50 day moving average is $92.52 and its 200 day moving average is $91.30. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. Acushnet has a 12 month low of $69.54 and a 12 month high of $104.81. The stock has a market cap of $5.22 billion, a PE ratio of 31.40 and a beta of 0.85.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The business had revenue of $752.98 million during the quarter, compared to analysts’ expectations of $722.48 million. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Research analysts predict that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. Acushnet’s payout ratio is currently 35.92%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the sale, the insider owned 70,512 shares of the company’s stock, valued at $6,434,925.12. The trade was a 17.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 53.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GOLF shares. Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings cut Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. UBS Group set a $100.00 price target on Acushnet in a report on Thursday, February 26th. Roth Mkm set a $87.00 price target on Acushnet in a report on Thursday, May 7th. Finally, Truist Financial boosted their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.17.

About Acushnet

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.