Man Group plc purchased a new stake in shares of Acushnet (NYSE:GOLF - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 37,055 shares of the company's stock, valued at approximately $4,392,000. Man Group plc owned about 0.06% of Acushnet at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Jupiter Topco LLC bought a new position in shares of Acushnet in the second quarter worth approximately $1,274,000. EFG International AG bought a new stake in Acushnet during the second quarter valued at approximately $4,994,000. Ancora Advisors LLC bought a new stake in Acushnet during the second quarter valued at approximately $204,000. Legal & General Group Plc purchased a new position in Acushnet in the 2nd quarter worth approximately $7,997,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Acushnet in the 2nd quarter worth approximately $1,723,000. Hedge funds and other institutional investors own 53.12% of the company's stock.
Analyst Ratings Changes
Several research firms have recently weighed in on GOLF. JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $96.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Wall Street Zen upgraded shares of Acushnet from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Roth Capital reissued a "neutral" rating and issued a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. Weiss Ratings raised Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Truist Financial raised their price target on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Acushnet presently has an average rating of "Hold" and a consensus target price of $99.17.
Read Our Latest Research Report on Acushnet
Acushnet Stock Down 0.1%
Shares of GOLF opened at $86.81 on Monday. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The stock has a 50 day simple moving average of $103.15 and a two-hundred day simple moving average of $97.78. The firm has a market cap of $5.07 billion, a P/E ratio of 23.65 and a beta of 0.81.
Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The firm had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. During the same period last year, the firm posted $1.25 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. On average, analysts forecast that Acushnet will post 4.02 earnings per share for the current fiscal year.
Acushnet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet's dividend payout ratio (DPR) is presently 27.79%.
Insider Buying and Selling
In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the sale, the insider directly owned 2,868 shares of the company's stock, valued at $272,460. The trade was a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 53.30% of the stock is currently owned by insiders.
Acushnet Profile
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Free Report)
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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