Acushnet $GOLF Stock: Curated Wealth Partners LLC Reduces Position

Key Points

• Curated Wealth Partners LLC cut its Acushnet stake by 85.3% in the third quarter, selling 50,665 shares and retaining 8,711 shares worth approximately $719,000.
• Acushnet reported strong quarterly results, with EPS of $2.08 exceeding estimates of $1.63 and revenue rising 13.8% year over year to $819.95 million.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and one rates it Buy, producing an average rating of Hold and a $96.57 price target.

Curated Wealth Partners LLC reduced its stake in shares of Acushnet (NYSE:GOLF - Free Report) by 85.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,711 shares of the company's stock after selling 50,665 shares during the period. Curated Wealth Partners LLC's holdings in Acushnet were worth $719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOLF. BlackRock Inc. purchased a new position in Acushnet in the 2nd quarter valued at about $496,463,000. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Acushnet during the 2nd quarter worth $45,290,194. Bank of New York Mellon Corp purchased a new position in shares of Acushnet during the 2nd quarter worth $31,800,000. Bank of America Corp DE acquired a new stake in shares of Acushnet during the second quarter worth $19,732,000. Finally, Sei Investments Co. boosted its holdings in shares of Acushnet by 7.6% during the first quarter. Sei Investments Co. now owns 108,255 shares of the company's stock worth $10,120,000 after purchasing an additional 7,604 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

NYSE:GOLF opened at $79.48 on Friday. Acushnet has a 1-year low of $75.16 and a 1-year high of $119.65. The stock has a market cap of $4.64 billion, a P/E ratio of 19.75 and a beta of 0.79. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The firm has a 50-day moving average of $85.12 and a two-hundred day moving average of $94.46.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.45. The firm had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.25 EPS. On average, research analysts expect that Acushnet will post 4.02 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.2550 dividend. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 4th. Acushnet's dividend payout ratio is currently 27.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOLF shares. Stephens cut their price objective on shares of Acushnet from $88.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $96.00 to $118.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Roth Capital restated a "neutral" rating and set a $95.00 price objective on shares of Acushnet in a report on Friday, August 7th. Wall Street Zen cut Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Finally, Weiss Ratings lowered Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $96.57.

Acushnet Profile

Acushnet Holdings Corp. is a golf equipment and apparel company that develops, manufactures and markets products for golfers worldwide. Its portfolio includes golf clubs, golf balls, golf shoes, gloves, apparel, accessories and other golf-related equipment.

The company's principal brands include Titleist, known for golf balls, clubs and equipment; FootJoy, which offers golf footwear, gloves and apparel; Scotty Cameron, which produces premium putters; Vokey Design, which specializes in wedges; and KJUS, a performance golf and outdoor apparel brand.

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