SG Americas Securities LLC Increases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

SG Americas Securities LLC grew its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 40.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,840 shares of the company’s stock after acquiring an additional 3,426 shares during the quarter. SG Americas Securities LLC’s holdings in Acushnet were worth $755,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in shares of Acushnet in the second quarter worth approximately $1,667,000. Point72 Asset Management L.P. grew its holdings in shares of 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 during the last quarter. Creative Planning grew its holdings in shares of Acushnet by 5.1% in the second quarter. Creative Planning now owns 7,194 shares of the company’s stock worth $457,000 after purchasing an additional 349 shares during the last quarter. Algert Global LLC bought a new position in shares of Acushnet in the second quarter worth approximately $203,000. Finally, SkyView Investment Advisors LLC boosted its holdings in Acushnet by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after acquiring an additional 187 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GOLF shares. Truist Financial lifted their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Compass Point dropped their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.43.

Acushnet Stock Up 0.9 %

Shares of GOLF opened at $63.80 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. Acushnet Holdings Corp. has a 12 month low of $49.42 and a 12 month high of $74.77. The stock’s 50 day moving average is $65.24 and its two-hundred day moving average is $64.77. The firm has a market cap of $3.94 billion, a P/E ratio of 22.00 and a beta of 0.84.

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

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio is presently 29.66%.

Insiders Place Their Bets

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 54.60% of the stock is currently owned by corporate insiders.

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.