Tudor Investment Corp ET AL Buys New Stake in Acushnet $GOLF

Key Points

• Tudor Investment Corp ET AL bought a new stake of 68,570 shares in Acushnet (NYSE:GOLF) during Q3, valued at about $5.38 million, and institutional investors now own roughly 53.12% of the company.
• Acushnet reported an EPS miss of ($0.58) vs. ($0.27) expected while revenue of $477.2M beat estimates and rose 7.2% year‑over‑year; Wall Street's consensus rating is "Hold" with a $89.57 price target.
• Director Gregory A. Hewett sold 4,206 shares at an average price of $100 on March 4, reducing his stake by 10.2%, and company insiders collectively own about 53.60% of the stock.

Tudor Investment Corp ET AL bought a new stake in Acushnet (NYSE:GOLF - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 68,570 shares of the company's stock, valued at approximately $5,382,000. Tudor Investment Corp ET AL owned 0.12% of Acushnet as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allworth Financial LP increased its stake in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company's stock valued at $40,000 after acquiring an additional 184 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Acushnet in the third quarter valued at about $231,000. Hancock Whitney Corp bought a new stake in Acushnet in the third quarter valued at about $258,000. Armistice Capital LLC bought a new stake in Acushnet in the third quarter valued at about $412,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Acushnet by 4.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 33,561 shares of the company's stock valued at $2,595,000 after acquiring an additional 1,560 shares during the period. Institutional investors own 53.12% of the company's stock.

Insider Activity at Acushnet

In other news, Director Gregory A. Hewett sold 4,206 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the sale, the director directly owned 37,017 shares of the company's stock, valued at $3,701,700. This represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.60% of the stock is owned by company insiders.

Acushnet Price Performance

Shares of Acushnet stock opened at $98.60 on Thursday. The company has a current ratio of 2.38, a quick ratio of 0.97 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 31.81 and a beta of 0.92. Acushnet has a 1-year low of $55.31 and a 1-year high of $104.81. The firm's 50-day moving average price is $97.00 and its two-hundred day moving average price is $87.66.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The company had revenue of $477.22 million for the quarter, compared to the consensus estimate of $453.59 million. During the same period last year, the company earned ($0.02) earnings per share. Acushnet's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. This is an increase from Acushnet's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, March 6th. Acushnet's payout ratio is currently 32.90%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOLF shares. JPMorgan Chase & Co. raised shares of Acushnet from an "underweight" rating to a "neutral" rating and upped their target price for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Truist Financial upped their target price on shares of Acushnet from $74.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, February 9th. KeyCorp reaffirmed a "sector weight" rating on shares of Acushnet in a research note on Friday, January 16th. Weiss Ratings cut shares of Acushnet from a "buy (b)" rating to a "hold (c+)" rating in a research note on Thursday, March 5th. Finally, Morgan Stanley upped their price objective on shares of Acushnet from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 22nd. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.57.

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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