LPL Financial LLC Has $2.19 Million Stock Holdings in Acushnet $GOLF

Key Points

• LPL Financial LLC increased its stake in Acushnet by 25.8%, acquiring an additional 6,549 shares and holding a total of 31,960 shares valued at approximately $2,194,000.
• Acushnet announced a quarterly dividend of $0.235 per share, representing an annual yield of 1.2%, with the payout scheduled for September 19th.
• The company reported earnings of $1.25 per share for the last quarter, missing estimates but showing a 5.4% year-over-year increase in revenue.

LPL Financial LLC increased its holdings in shares of Acushnet (NYSE:GOLF - Free Report) by 25.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,960 shares of the company's stock after acquiring an additional 6,549 shares during the quarter. LPL Financial LLC owned about 0.05% of Acushnet worth $2,194,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc grew its position in shares of Acushnet by 1.7% during the 4th quarter. Legal & General Group Plc now owns 38,124 shares of the company's stock worth $2,710,000 after purchasing an additional 621 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Acushnet by 93.1% in the fourth quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock valued at $1,400,000 after buying an additional 9,493 shares during the period. Barclays PLC grew its position in Acushnet by 34.4% during the fourth quarter. Barclays PLC now owns 65,252 shares of the company's stock worth $4,638,000 after buying an additional 16,689 shares in the last quarter. Mariner LLC increased its stake in Acushnet by 40.7% during the 4th quarter. Mariner LLC now owns 13,726 shares of the company's stock worth $975,000 after acquiring an additional 3,972 shares during the period. Finally, XTX Topco Ltd bought a new position in Acushnet during the 4th quarter worth $419,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Price Performance

Acushnet stock traded up $2.4520 during midday trading on Friday, reaching $79.5520. The company's stock had a trading volume of 387,306 shares, compared to its average volume of 407,013. 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 stock has a market cap of $4.67 billion, a PE ratio of 21.27 and a beta of 0.84. Acushnet has a 52 week low of $55.31 and a 52 week high of $84.40. The business has a 50-day moving average price of $77.21 and a 200-day moving average price of $70.15.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The company had revenue of $720.48 million during the quarter, compared to the consensus estimate of $713.70 million. During the same period last year, the company posted $1.11 EPS. The firm's revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

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

Wall Street Analyst Weigh In

GOLF has been the topic of several analyst reports. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a 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. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their target price for the company from $80.00 to $71.00 in a report on Monday, May 5th. Morgan Stanley boosted their target price on shares of Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, KeyCorp upped their price target on shares of Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $73.33.

Insider Buying and Selling

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the sale, the insider 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Holdings Corp. Misto sold 953,406 shares of the 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 transaction, the director owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 53.60% of the company's stock.

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.