Klingman & Associates LLC Takes Position in Acushnet $GOLF

Key Points

• Klingman & Associates LLC has acquired a new stake in Acushnet, purchasing 3,133 shares valued at approximately $228,000 in the second quarter.
• A recent report showed mixed analyst ratings for Acushnet, with two analysts recommending a Buy, four a Hold, and one a Sell, while the consensus price target stands at $73.00.
• Acushnet announced a quarterly dividend of $0.235 per share, representing an annualized dividend yield of 1.2% and a payout ratio of 25.13%.

Klingman & Associates LLC purchased a new stake in shares of Acushnet (NYSE:GOLF - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,133 shares of the company's stock, valued at approximately $228,000.

A number of other large investors have also added to or reduced their stakes in GOLF. KBC Group NV acquired a new stake in Acushnet during the 1st quarter valued at $44,000. GAMMA Investing LLC grew its holdings in Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $45,000 after purchasing an additional 319 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Acushnet by 487.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock valued at $80,000 after purchasing an additional 990 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Acushnet during the 1st quarter valued at $112,000. Finally, Sovereign Financial Group Inc. acquired a new stake in Acushnet during the 2nd quarter valued at $202,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. KeyCorp raised their price objective on shares of Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Morgan Stanley raised their price objective on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Acushnet in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $73.00.

Insider Activity at Acushnet

In other news, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction dated 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 transaction, the insider directly owned 191,786 shares of the company's stock, valued at approximately $15,122,326.10. The trade was a 6.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 53.60% of the company's stock.

Acushnet Trading Up 1.3%

NYSE GOLF opened at $79.91 on Wednesday. Acushnet has a one year low of $55.31 and a one year high of $84.40. The company has a 50-day simple moving average of $77.71 and a 200-day simple moving average of $73.38. 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 firm has a market capitalization of $4.69 billion, a PE ratio of 21.37 and a beta of 0.89.

Acushnet (NYSE:GOLF - Get Free Report) last posted 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 net margin of 9.24% and a return on equity of 28.05%. The business had revenue of $720.48 million during the quarter, compared to analyst estimates of $713.70 million. During the same period last year, the firm posted $1.11 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.235 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. Acushnet's payout ratio is 25.13%.

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.

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