OMERS ADMINISTRATION Corp Takes Position in Acushnet $GOLF

Key Points

• OMERS ADMINISTRATION Corp acquired a new position in Acushnet, purchasing 18,400 shares valued at approximately $1.26 million in the first quarter.
• Acushnet's recent earnings report showed EPS of $1.25, missing analysts' estimates of $1.33, while revenue increased by 5.4% year-over-year.
• The company declared a quarterly dividend of $0.235 per share, with an annualized yield of 1.2%, set to be paid on September 19th.

OMERS ADMINISTRATION Corp acquired a new stake in Acushnet (NYSE:GOLF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 18,400 shares of the company's stock, valued at approximately $1,263,000.

Other hedge funds also recently made changes to their positions in the company. Corebridge Financial Inc. grew its position in Acushnet by 3.2% in the first quarter. Corebridge Financial Inc. now owns 14,521 shares of the company's stock valued at $997,000 after acquiring an additional 450 shares during the period. Comerica Bank boosted its stake in Acushnet by 35.5% in the first quarter. Comerica Bank now owns 34,317 shares of the company's stock worth $2,356,000 after purchasing an additional 8,994 shares in the last quarter. Walleye Capital LLC acquired a new position in Acushnet in the first quarter worth $973,000. Smartleaf Asset Management LLC boosted its stake in Acushnet by 487.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock worth $80,000 after purchasing an additional 990 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Acushnet in the first quarter worth $112,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Insider Activity at Acushnet

In related news, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 191,786 shares of the company's stock, valued at approximately $15,122,326.10. This represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 53.60% of the company's stock.

Analyst Ratings Changes

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

Acushnet Stock Up 2.2%

Shares of NYSE:GOLF traded up $1.61 during mid-day trading on Thursday, reaching $76.11. 360,352 shares of the stock were exchanged, compared to its average volume of 474,262. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The company has a market cap of $4.46 billion, a P/E ratio of 20.35 and a beta of 0.90. Acushnet has a one year low of $55.31 and a one year high of $84.40. The stock's 50 day simple moving average is $78.06 and its 200-day simple moving average is $70.68.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.08). The firm had revenue of $720.48 million for the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.11 earnings per share. As a group, equities research analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.94 annualized dividend and a yield of 1.2%. Acushnet's dividend payout ratio 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.