Acushnet (NYSE:GOLF) Shares Sold by Neumeier Poma Investment Counsel LLC

Key Points

• Neumeier Poma Investment Counsel LLC has reduced its stake in Acushnet by 2.8%, selling 7,165 shares to hold a total of 245,948 shares worth approximately $16.89 million.
• Several institutional investors have increased their interest in Acushnet, with GAMMA Investing LLC raising its stake by 96.1% in the first quarter of 2023.
• Acushnet recently reported earnings of $1.62 per share, exceeding analysts' expectations, although its revenue was down 0.6% from the previous year.

Neumeier Poma Investment Counsel LLC lessened its stake in Acushnet (NYSE:GOLF - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,948 shares of the company's stock after selling 7,165 shares during the quarter. Acushnet accounts for approximately 1.8% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 26th biggest position. Neumeier Poma Investment Counsel LLC owned approximately 0.41% of Acushnet worth $16,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new stake in shares of Acushnet during the 4th quarter worth approximately $28,641,000. Vanguard Group Inc. raised its stake in shares of Acushnet by 9.6% in the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock valued at $212,205,000 after acquiring an additional 269,742 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Acushnet in the first quarter valued at $6,020,000. Principal Financial Group Inc. raised its stake in shares of Acushnet by 7.9% in the first quarter. Principal Financial Group Inc. now owns 1,104,699 shares of the company's stock valued at $75,849,000 after acquiring an additional 80,676 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Acushnet by 26.5% in the first quarter. Bank of New York Mellon Corp now owns 343,978 shares of the company's stock valued at $23,617,000 after acquiring an additional 71,983 shares during the period. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

GOLF stock traded down $0.51 during trading on Monday, hitting $74.53. 192,252 shares of the company traded hands, compared to its average volume of 480,319. The stock's 50-day simple moving average is $75.85 and its 200 day simple moving average is $69.32. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. The company has a market cap of $4.37 billion, a PE ratio of 19.93 and a beta of 0.84. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data 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 last year, the firm posted $1.11 earnings per share. Acushnet's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.94 annualized dividend and a yield of 1.3%. Acushnet's dividend payout ratio (DPR) is 25.13%.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the transaction, the director directly owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 53.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. KeyCorp raised their price objective on Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $80.00 to $71.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $73.33.

Acushnet Company 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.