Intech Investment Management LLC Sells 2,688 Shares of Acushnet $GOLF

Intech Investment Management LLC lowered its holdings in shares of Acushnet (NYSE:GOLF) by 19.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,216 shares of the company’s stock after selling 2,688 shares during the quarter. Intech Investment Management LLC’s holdings in Acushnet were worth $817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH bought a new stake in shares of Acushnet in the first quarter worth about $564,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Acushnet during the 1st quarter valued at approximately $223,000. Avantax Advisory Services Inc. purchased a new position in Acushnet during the 1st quarter valued at approximately $207,000. Cetera Investment Advisers increased its stake in Acushnet by 10.4% in the 1st quarter. Cetera Investment Advisers now owns 3,965 shares of the company’s stock worth $272,000 after acquiring an additional 374 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Acushnet by 25.8% during the 1st quarter. LPL Financial LLC now owns 31,960 shares of the company’s stock worth $2,194,000 after acquiring an additional 6,549 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GOLF shares. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Roth Capital reiterated a “neutral” rating and issued a $80.00 price target on shares of Acushnet in a research report on Thursday, November 6th. KeyCorp upped their price objective on Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Truist Financial raised their price objective on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus target price of $76.50.

Acushnet Stock Up 0.7%

Shares of NYSE GOLF opened at $84.70 on Thursday. Acushnet has a 52-week low of $55.31 and a 52-week high of $85.95. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 23.14 and a beta of 0.90. The stock has a 50 day moving average price of $79.22 and a 200 day moving average price of $76.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The business had revenue of $657.66 million during the quarter, compared to analysts’ expectations of $632.76 million. During the same period last year, the company earned $0.89 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. Acushnet has set its FY 2025 guidance at EPS. Sell-side analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, December 5th. Acushnet’s payout ratio is currently 25.68%.

Insiders Place Their Bets

In other Acushnet news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the sale, the chief executive officer owned 852,092 shares of the company’s stock, valued at approximately $67,596,458.36. The trade was a 3.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 76,006 shares in the company, valued at approximately $6,434,667.96. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 71,460 shares of company stock worth $5,786,311. Insiders own 53.60% of the company’s stock.

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.