Public Sector Pension Investment Board Invests $5.96 Million in Acushnet $GOLF

Key Points

• The Public Sector Pension Investment Board acquired 86,770 shares of Acushnet, valued at approximately $5.96 million, representing about 0.14% ownership of the company.
• Several institutional investors, including Vanguard and Invesco, have increased their stakes in Acushnet, leading to a total of 53.12% of shares held by institutional shareholders.
• Acushnet recently reported quarterly earnings showing a 5.4% increase in revenue year-over-year, although earnings per share missed analysts' expectations.

Public Sector Pension Investment Board acquired a new stake in Acushnet (NYSE:GOLF - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 86,770 shares of the company's stock, valued at approximately $5,958,000. Public Sector Pension Investment Board owned about 0.14% of Acushnet as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOLF. Cambridge Investment Research Advisors Inc. increased its stake in shares of Acushnet by 6.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock valued at $240,000 after acquiring an additional 203 shares during the last quarter. Heritage Family Offices LLP boosted its position in Acushnet by 7.4% during the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock valued at $212,000 after purchasing an additional 212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Acushnet by 1.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock valued at $1,144,000 after purchasing an additional 213 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after purchasing an additional 217 shares in the last quarter. Finally, Berry Wealth Group LP boosted its holdings in shares of Acushnet by 8.0% in the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock valued at $211,000 after buying an additional 229 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Acushnet

In other news, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the transaction, the insider owned 191,786 shares in the company, valued at approximately $15,122,326.10. The trade was a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 sale, the director owned 29,523,653 shares in the company, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their position. The disclosure for this sale can be found here. 53.60% of the stock is owned by company insiders.

Acushnet Trading Down 0.3%

Shares of NYSE:GOLF traded down $0.2250 on Wednesday, hitting $78.1350. The company had a trading volume of 109,260 shares, compared to its average volume of 475,318. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40. The firm's 50-day simple moving average is $76.80 and its two-hundred day simple moving average is $69.84. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 20.89 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last announced 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 company had revenue of $720.48 million for the quarter, compared to analysts' expectations of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. 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 firm posted $1.11 EPS. Equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 5th. Acushnet's payout ratio is presently 25.13%.

Analyst Upgrades and Downgrades

GOLF has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. KeyCorp raised 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. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $80.00 to $71.00 in a research note on Monday, May 5th. Finally, Truist Financial raised their price objective on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $73.33.

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.