Creative Planning Increases Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Creative Planning increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,956 shares of the company’s stock after acquiring an additional 762 shares during the quarter. Creative Planning’s holdings in Acushnet were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after purchasing an additional 889,515 shares in the last quarter. Edgestream Partners L.P. bought a new position in Acushnet in the first quarter worth $8,754,000. Thornburg Investment Management Inc. bought a new position in Acushnet in the second quarter worth $7,794,000. Point72 Asset Management L.P. raised its holdings in Acushnet by 2,217.7% in the second quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock worth $4,708,000 after purchasing an additional 70,966 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Acushnet in the first quarter worth $1,842,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Buying and Selling

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the sale, the director now directly owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOLF. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Truist Financial increased their price objective on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.80.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $63.24 on Wednesday. Acushnet Holdings Corp. has a 1-year low of $53.68 and a 1-year high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The business has a fifty day moving average price of $63.63 and a 200-day moving average price of $64.60. The company has a market capitalization of $3.91 billion, a PE ratio of 21.81 and a beta of 0.85.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The company had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. Acushnet’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts expect that Acushnet Holdings Corp. will post 3.02 EPS for the current fiscal year.

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.