Edgestream Partners L.P. Acquires 38,030 Shares of Acushnet $GOLF

Edgestream Partners L.P. grew its holdings in Acushnet (NYSE:GOLF) by 106.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,742 shares of the company’s stock after purchasing an additional 38,030 shares during the period. Edgestream Partners L.P. owned approximately 0.13% of Acushnet worth $6,893,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its stake in Acushnet by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock valued at $503,000 after buying an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Acushnet by 3.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Acushnet by 2.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after acquiring an additional 135 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Acushnet by 1.0% in the first quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company’s stock worth $1,404,000 after acquiring an additional 142 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Acushnet by 43.8% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the company’s stock worth $50,000 after acquiring an additional 163 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 2,868 shares in the company, valued at approximately $272,460. This represents a 15.57% decrease in their position. The SEC filing for this sale provides additional information. 53.30% of the stock is currently owned by corporate insiders.

Acushnet Stock Down 2.0%

GOLF opened at $100.49 on Friday. The company has a fifty day moving average price of $103.89 and a 200-day moving average price of $98.23. The firm has a market capitalization of $5.88 billion, a P/E ratio of 35.38 and a beta of 0.80. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. Acushnet has a one year low of $73.09 and a one year high of $119.65.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The business had revenue of $752.98 million during 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 company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. Equities research analysts expect that Acushnet will post 3.75 earnings per share for the current fiscal year.

Acushnet Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.