Sei Investments Co. Grows Stock Holdings in Acushnet $GOLF

Sei Investments Co. grew its position in Acushnet (NYSE:GOLF) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,255 shares of the company’s stock after buying an additional 7,604 shares during the quarter. Sei Investments Co. owned 0.18% of Acushnet worth $10,120,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GOLF. Millstone Evans Group LLC increased its stake in Acushnet by 170.2% during the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 177 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors purchased a new position in shares of Acushnet in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Acushnet by 416.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 635 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Roth Capital set a $87.00 target price on shares of Acushnet in a report on Thursday, May 7th. Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings upgraded shares of Acushnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.83.

Acushnet Stock Performance

Shares of Acushnet stock opened at $101.18 on Friday. Acushnet has a one year low of $73.09 and a one year high of $119.65. The company has a market cap of $5.92 billion, a PE ratio of 35.63 and a beta of 0.80. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The business has a 50-day simple moving average of $104.15 and a 200-day simple moving average of $98.25.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 earnings per share. On average, equities research analysts forecast that Acushnet will post 3.75 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 5th. Acushnet’s payout ratio is 35.92%.

Insider Buying and Selling

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. This represents a 15.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 53.30% of the company’s stock.

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.