Vestmark Advisory Solutions Inc. Purchases 47,756 Shares of Acushnet $GOLF

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Acushnet by 92.1% during the first quarter, owning a total of 99,608 shares valued at approximately $6.84 million.
• Acushnet recently reported a quarterly EPS of $1.25, missing analysts' expectations, but achieved a 5.4% year-over-year revenue growth with total revenue of $720.48 million.
• The company has announced a quarterly dividend of $0.235 per share, with a yield of 1.2%, reinforcing its commitment to returning value to shareholders.

Vestmark Advisory Solutions Inc. boosted its stake in shares of Acushnet (NYSE:GOLF - Free Report) by 92.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,608 shares of the company's stock after acquiring an additional 47,756 shares during the quarter. Vestmark Advisory Solutions Inc. owned 0.17% of Acushnet worth $6,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Acushnet in the 4th quarter worth about $31,000. KBC Group NV acquired a new position in Acushnet in the first quarter valued at about $44,000. GAMMA Investing LLC grew its stake in Acushnet by 96.1% during the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after buying an additional 319 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Acushnet during the fourth quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOLF. KeyCorp increased their price target on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Morgan Stanley lifted their price target on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and a consensus price target of $73.33.

Acushnet Trading Up 0.3%

Shares of GOLF traded up $0.26 on Wednesday, reaching $78.62. 31,757 shares of the company's stock were exchanged, compared to its average volume of 474,829. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $4.61 billion, a P/E ratio of 21.02 and a beta of 0.84. The business has a 50 day moving average price of $76.80 and a two-hundred day moving average price of $69.84. Acushnet has a 12 month low of $55.31 and a 12 month high of $84.40.

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). Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The business had revenue of $720.48 million during the quarter, compared to the consensus estimate of $713.70 million. During the same period in the previous year, the business posted $1.11 earnings per share. Acushnet's revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is currently 25.13%.

Insiders Place Their Bets

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 29,523,653 shares of the company's stock, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is owned by insiders.

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.