Teza Capital Management LLC Acquires Shares of 3,534 Acushnet $GOLF

Key Points

• Teza Capital Management LLC has acquired a new position in Acushnet, purchasing 3,534 shares valued at approximately $243,000 during the 1st quarter.
• Insider sales have occurred, with Mary Louise Bohn selling 13,190 shares and Director Holdings Corp. Misto selling 953,406 shares, indicating a decrease in their ownership percentages.
• Acushnet announced a quarterly dividend of $0.235, with an annualized yield of 1.2%, payable on September 19th to shareholders of record by September 5th.

Teza Capital Management LLC acquired a new stake in Acushnet (NYSE:GOLF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,534 shares of the company's stock, valued at approximately $243,000.

A number of other large investors also recently modified their holdings of GOLF. Bank of America Corp DE boosted its position in shares of Acushnet by 8.1% in the fourth quarter. Bank of America Corp DE now owns 135,518 shares of the company's stock valued at $9,633,000 after acquiring an additional 10,150 shares during the period. Cetera Investment Advisers bought a new position in shares of Acushnet in the fourth quarter valued at approximately $255,000. D. E. Shaw & Co. Inc. boosted its position in shares of Acushnet by 40.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 168,822 shares of the company's stock valued at $12,000,000 after acquiring an additional 48,553 shares during the period. Deutsche Bank AG boosted its position in shares of Acushnet by 52.0% in the fourth quarter. Deutsche Bank AG now owns 26,955 shares of the company's stock valued at $1,916,000 after acquiring an additional 9,224 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Acushnet by 6.8% in the fourth quarter. Janus Henderson Group PLC now owns 46,737 shares of the company's stock valued at $3,322,000 after acquiring an additional 2,990 shares during the period. 53.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, the director directly owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mary Louise Bohn sold 13,190 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the sale, the insider owned 191,786 shares of the company's stock, valued at $15,122,326.10. This represents a 6.43% 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.

Acushnet Trading Down 2.1%

Shares of GOLF traded down $1.60 during mid-day trading on Friday, reaching $74.67. The company's stock had a trading volume of 294,009 shares, compared to its average volume of 357,700. The stock has a market cap of $4.38 billion, a PE ratio of 19.97 and a beta of 0.90. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. Acushnet has a 52 week low of $55.31 and a 52 week high of $84.40. The company's fifty day moving average price is $78.23 and its two-hundred day moving average price is $71.17.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.25 earnings per share 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 the consensus estimate of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The company's 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 earnings per share. On average, analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio is currently 25.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOLF. KeyCorp raised their price objective on shares of Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Morgan Stanley boosted their price target 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. Finally, Zacks Research cut shares of Acushnet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $73.33.

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.