14,175 Shares in Acushnet $GOLF Purchased by Walleye Capital LLC

Key Points

• Walleye Capital LLC has acquired 14,175 shares of Acushnet ($GOLF), valued at approximately $973,000, marking a new position for the investor in the first quarter.
• Acushnet announced a quarterly dividend of $0.235 per share, with a dividend yield of 1.2%, which will be paid on September 19th.
• The company reported $720.48 million in revenue for the last quarter, surpassing analysts' expectations, but earnings per share fell short of estimates at $1.25.

Walleye Capital LLC purchased a new position in Acushnet (NYSE:GOLF - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,175 shares of the company's stock, valued at approximately $973,000.

A number of other large investors also recently bought and sold shares of GOLF. Public Employees Retirement System of Ohio purchased a new position in shares of Acushnet in the fourth quarter valued at approximately $31,000. KBC Group NV purchased a new position in shares of Acushnet in the first quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in shares of Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $45,000 after acquiring an additional 319 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Acushnet in the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Trading Down 0.5%

Shares of Acushnet stock opened at $76.53 on Friday. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 20.46 and a beta of 0.84. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 2.25. The stock has a 50 day moving average of $77.89 and a 200 day moving average of $70.53.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The firm had revenue of $720.48 million for the quarter, compared to analysts' expectations of $713.70 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is presently 25.13%.

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total value of $62,505,297.36. Following the sale, the director directly owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Louise Bohn sold 13,190 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the sale, the insider owned 191,786 shares in the company, valued at approximately $15,122,326.10. This represents a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the company from $80.00 to $71.00 in a research report on Monday, May 5th. KeyCorp upped their price target on Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Truist Financial upped their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Zacks Research lowered Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and a consensus price target of $73.33.

About Acushnet

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.

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