Amalgamated Bank Increases Holdings in Acushnet (NYSE:GOLF)

Amalgamated Bank grew its holdings in Acushnet (NYSE:GOLF - Free Report) by 712.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,836 shares of the company's stock after purchasing an additional 6,871 shares during the period. Amalgamated Bank's holdings in Acushnet were worth $538,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Acushnet by 6.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock worth $240,000 after buying an additional 203 shares during the last quarter. Heritage Family Offices LLP boosted its stake in shares of Acushnet by 7.4% in the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock worth $212,000 after buying an additional 212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Acushnet by 1.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock worth $1,144,000 after buying an additional 213 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Acushnet by 1.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after buying an additional 217 shares during the last quarter. Finally, Berry Wealth Group LP boosted its stake in shares of Acushnet by 8.0% in the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock worth $211,000 after buying an additional 229 shares during the last quarter. Institutional investors own 53.12% of the company's stock.

Insiders Place Their Bets

In related news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet 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 transaction, the director directly owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 53.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOLF. KeyCorp restated an "overweight" rating and issued a $80.00 price target (up from $75.00) on shares of Acushnet in a research note on Friday, June 27th. Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Finally, Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Acushnet presently has a consensus rating of "Hold" and a consensus price target of $71.00.

Acushnet Stock Performance

NYSE GOLF traded up $0.17 on Monday, hitting $78.19. 244,200 shares of the company traded hands, compared to its average volume of 398,239. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 21.72 and a beta of 0.84. 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 business's 50 day moving average price is $71.52 and its 200-day moving average price is $68.23. Acushnet has a 52-week low of $55.31 and a 52-week high of $79.23.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.30. The company had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. Acushnet's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 earnings per share. Equities analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.235 per share. The ex-dividend date was Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.20%. Acushnet's dividend payout ratio (DPR) is presently 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.