Amalgamated Bank Acquires 6,871 Shares of Acushnet (NYSE:GOLF)

Amalgamated Bank raised its position in Acushnet (NYSE:GOLF - Free Report) by 712.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the company's stock after buying an additional 6,871 shares during the quarter. Amalgamated Bank's holdings in Acushnet were worth $538,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Praxis Investment Management Inc. bought a new stake in shares of Acushnet during the 1st quarter valued at $290,000. SG Americas Securities LLC raised its stake in shares of Acushnet by 783.2% during the 1st quarter. SG Americas Securities LLC now owns 17,391 shares of the company's stock valued at $1,194,000 after purchasing an additional 15,422 shares during the period. Rhumbline Advisers increased its stake in Acushnet by 89.6% in the 1st quarter. Rhumbline Advisers now owns 78,007 shares of the company's stock worth $5,356,000 after acquiring an additional 36,865 shares during the last quarter. Sei Investments Co. increased its stake in Acushnet by 4.3% in the 4th quarter. Sei Investments Co. now owns 102,137 shares of the company's stock worth $7,260,000 after acquiring an additional 4,256 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Acushnet by 13,363.3% in the 1st quarter. GAMMA Investing LLC now owns 44,698 shares of the company's stock worth $3,069,000 after acquiring an additional 44,366 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOLF has been the topic of a number of research analyst reports. KeyCorp restated an "overweight" rating and issued a $80.00 target price (up from $75.00) on shares of Acushnet in a research note on Friday, June 27th. Truist Financial upped their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Finally, Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Acushnet currently has an average rating of "Hold" and an average price target of $71.00.

Insider Activity

In other news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 53.60% of the company's stock.

Acushnet Price Performance

Shares of GOLF traded down $0.29 during midday trading on Friday, reaching $77.96. The stock had a trading volume of 280,972 shares, compared to its average volume of 398,858. The company's 50-day moving average is $71.52 and its 200 day moving average is $68.25. Acushnet has a 12-month low of $55.31 and a 12-month high of $79.23. The company has a current ratio of 2.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 21.66 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The firm had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. During the same period in the prior year, the business earned $1.35 EPS. The company's revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's payout ratio is currently 26.11%.

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.