Landscape Capital Management L.L.C. Cuts Position in Acushnet $GOLF

Key Points

• Landscape Capital Management L.L.C. reduced its stake in Acushnet by 24.1%, now holding 18,872 shares valued at approximately $1.30 million.
• Several hedge funds, including Public Employees Retirement System of Ohio and KBC Group NV, have recently made new investments in Acushnet, indicative of active interest among institutional investors.
• Acushnet announced a quarterly dividend of $0.235 per share, which translates to an annual yield of 1.2%, set to be paid on September 19th to shareholders on record as of September 5th.

Landscape Capital Management L.L.C. decreased its holdings in Acushnet (NYSE:GOLF - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,872 shares of the company's stock after selling 6,005 shares during the period. Landscape Capital Management L.L.C.'s holdings in Acushnet were worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Acushnet during the 4th quarter worth $31,000. KBC Group NV purchased a new stake in shares of Acushnet during the 1st quarter worth $44,000. GAMMA Investing LLC lifted its position in shares of Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Acushnet during the 4th quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Acushnet by 39.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

Insider Buying and Selling at Acushnet

In other news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the sale, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mary Louise Bohn sold 13,190 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the completion of the sale, the insider owned 191,786 shares of the company's stock, valued at $15,122,326.10. This trade represents a 6.43% decrease in their position. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOLF shares. KeyCorp lifted their price objective on shares of Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Truist Financial lifted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Zacks Research cut shares of Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Morgan Stanley lifted their price target on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $73.33.

Acushnet Stock Up 2.2%

NYSE:GOLF traded up $1.61 during midday trading on Thursday, hitting $76.11. 360,352 shares of the company were exchanged, compared to its average volume of 417,818. The company has a fifty day simple moving average of $78.12 and a 200 day simple moving average of $70.74. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $4.46 billion, a PE ratio of 20.35 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.25 earnings per share (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 business had revenue of $720.48 million for the quarter, compared to analysts' expectations of $713.70 million. During the same period in the previous year, the business posted $1.11 earnings per share. The company's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is 25.13%.

About Acushnet

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.