Universal Beteiligungs und Servicegesellschaft mbH Acquires New Shares in Acushnet (NYSE:GOLF)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Acushnet, purchasing 3,242 shares valued at approximately $223,000 during the first quarter.
• Insider trading revealed that Director Holdings Corp. Misto sold 953,406 shares at an average price of $65.56, resulting in a transaction of over $62 million.
• Acushnet's latest earnings report showed earnings per share of $1.62, which exceeded analysts' expectations, along with a revenue of $703.37 million for the quarter.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Acushnet (NYSE:GOLF - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,242 shares of the company's stock, valued at approximately $223,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH purchased a new stake in shares of Acushnet in the first quarter valued at $564,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Acushnet in the first quarter valued at $629,000. Edgestream Partners L.P. acquired a new position in shares of Acushnet in the first quarter worth $6,020,000. Louisiana State Employees Retirement System acquired a new position in shares of Acushnet in the first quarter worth $886,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Acushnet in the first quarter worth $274,000. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Down 1.0%

NYSE:GOLF traded down $0.82 on Wednesday, hitting $79.58. The stock had a trading volume of 560,363 shares, compared to its average volume of 479,462. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40. The firm's fifty day simple moving average is $75.31 and its two-hundred day simple moving average is $69.26. The stock has a market cap of $4.68 billion, a P/E ratio of 22.11 and a beta of 0.84. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The business had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same period last year, the business posted $1.35 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Insider Transactions at Acushnet

In other Acushnet 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 transaction 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. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 53.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. KeyCorp reissued an "overweight" rating and set a $80.00 price objective (up from $75.00) on shares of Acushnet in a report on Friday, June 27th. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. Finally, Truist Financial lifted their price target on shares of 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 sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $72.50.

Acushnet 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.