Landscape Capital Management L.L.C. Makes New $3.64 Million Investment in Acushnet $GOLF

Key Points

• Landscape Capital Management acquired 30,693 Acushnet shares worth approximately $3.64 million, giving it a 0.05% stake. Institutional investors collectively own 53.12% of the company.
• Acushnet reported strong quarterly results, with EPS of $2.08 beating estimates of $1.63 and revenue rising 13.8% year over year to $819.95 million.
• Shares opened at $89.03, while analysts maintain a consensus “Hold” rating with an average price target of $99.17. The company also declared a quarterly dividend of $0.255 per share.

Landscape Capital Management L.L.C. bought a new position in Acushnet (NYSE:GOLF - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 30,693 shares of the company's stock, valued at approximately $3,638,000. Landscape Capital Management L.L.C. owned 0.05% of Acushnet at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GOLF. Millstone Evans Group LLC raised its holdings in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company's stock valued at $26,000 after buying an additional 177 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock worth $26,000 after acquiring an additional 261 shares during the period. Kelleher Financial Advisors purchased a new position in Acushnet in the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC acquired a new stake in Acushnet in the second quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC grew its position in Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Trading Down 0.2%

Shares of GOLF opened at $89.03 on Friday. Acushnet has a one year low of $73.09 and a one year high of $119.65. The stock has a 50-day moving average price of $104.68 and a 200 day moving average price of $98.27. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. The company has a market capitalization of $5.20 billion, a P/E ratio of 24.26 and a beta of 0.81.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The company had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. During the same period in the previous year, the business earned $1.25 EPS. Acushnet's revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 4th. Acushnet's payout ratio is 27.79%.

Insiders Place Their Bets

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider directly owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares of the company's stock, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 53.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOLF has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Truist Financial upped their target price on shares of Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research note on Tuesday, May 19th. Roth Capital reaffirmed a "neutral" rating and set a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Acushnet from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $99.17.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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