Rhumbline Advisers Has $5.36 Million Stock Holdings in Acushnet $GOLF

Key Points

• Rhumbline Advisers increased its stake in Acushnet by 89.6%, acquiring an additional 36,865 shares, bringing their total ownership to 78,007 shares valued at approximately $5.36 million.
• Despite recent institutional investments and an earnings report showing a revenue increase of 5.4% year-over-year, shares of Acushnet are down 2.1%, currently trading at $74.67.
• A recent quarterly dividend of $0.235 per share has been announced, yielding an annualized total of $0.94 per share with a payout ratio of 25.13%.

Rhumbline Advisers increased its holdings in shares of Acushnet (NYSE:GOLF - Free Report) by 89.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,007 shares of the company's stock after acquiring an additional 36,865 shares during the quarter. Rhumbline Advisers owned about 0.13% of Acushnet worth $5,356,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in GOLF. Jane Street Group LLC grew its position in shares of Acushnet by 61.2% in the 1st quarter. Jane Street Group LLC now owns 20,617 shares of the company's stock valued at $1,416,000 after buying an additional 7,831 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Acushnet by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 91,537 shares of the company's stock valued at $6,285,000 after buying an additional 923 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in Acushnet in the 1st quarter valued at approximately $1,133,000. Aristeia Capital L.L.C. purchased a new stake in shares of Acushnet in the first quarter worth about $352,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Acushnet by 39.0% during the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company's stock worth $17,152,000 after purchasing an additional 70,095 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Acushnet Price Performance

Shares of GOLF stock traded down $0.02 on Monday, reaching $74.67. 163,015 shares of the company were exchanged, compared to its average volume of 356,554. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 2.25. The business has a 50-day moving average price of $78.21 and a 200 day moving average price of $71.29. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 19.97 and a beta of 0.90.

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). The business had revenue of $720.48 million during 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%. Acushnet's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 EPS. Equities research analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is currently 25.13%.

Insider Activity

In other news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was 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 in the company, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Louise Bohn sold 13,190 shares of the business's stock in a transaction dated 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. This trade represents a 6.43% decrease in their position. The disclosure for this sale can be found here. Corporate 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.