OneDigital Investment Advisors LLC Makes New Investment in Acushnet $GOLF

Key Points

• OneDigital Investment Advisors acquired 12,504 shares of Acushnet, valued at approximately $1.48 million. Hedge funds and other institutional investors own 53.12% of the company.
• Acushnet reported quarterly earnings of $2.08 per share, beating estimates of $1.63, while revenue rose 13.8% year over year to $819.95 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $99.17. Acushnet also declared a quarterly dividend of $0.255 per share, representing a 1.1% yield.

OneDigital Investment Advisors LLC bought a new position in shares of Acushnet (NYSE:GOLF - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,504 shares of the company's stock, valued at approximately $1,482,000.

Several other hedge funds also recently added to or reduced their stakes in GOLF. Millstone Evans Group LLC lifted its holdings in shares of Acushnet by 170.2% in 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. grew its holdings in Acushnet by 389.6% during the third 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 acquired a new stake in Acushnet during the third quarter worth about $28,000. Global Retirement Partners LLC purchased a new position in Acushnet during the second quarter valued at approximately $36,000. Finally, EverSource Wealth Advisors LLC raised its position in Acushnet by 149.7% during 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. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOLF. JPMorgan Chase & Co. upped their price objective on Acushnet from $96.00 to $118.00 and gave the stock 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 note on Saturday. Roth Capital reissued a "neutral" rating and set a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Acushnet has an average rating of "Hold" and a consensus price target of $99.17.

Acushnet Trading Up 0.8%

GOLF stock opened at $90.76 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01. Acushnet has a 12-month low of $73.09 and a 12-month high of $119.65. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 24.73 and a beta of 0.81. The business's 50-day moving average is $105.26 and its 200 day moving average is $98.47.

Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.45. The business had revenue of $819.95 million during the quarter, compared to analysts' expectations of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The business's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, sell-side analysts anticipate that Acushnet will post 3.99 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th. Acushnet's dividend payout ratio is currently 27.79%.

Insider Buying and Selling at Acushnet

In other news, insider Nicholas N. Mohamed sold 529 shares of the company's 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 completion of the sale, the insider owned 2,868 shares of the company's stock, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the sale, the insider owned 70,512 shares of the company's stock, valued at $6,434,925.12. This trade 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 corporate insiders.

Acushnet Profile

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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