Natixis Makes New $4.25 Million Investment in Acushnet $GOLF

Natixis purchased a new position in Acushnet (NYSE:GOLF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,363 shares of the company’s stock, valued at approximately $4,250,000. Natixis owned about 0.10% of Acushnet at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOLF. EverSource Wealth Advisors LLC increased its holdings in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Acushnet by 83.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after acquiring an additional 246 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Acushnet by 78.6% during the 2nd quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock valued at $42,000 after acquiring an additional 253 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Acushnet by 487.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $80,000 after acquiring an additional 990 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Acushnet in the second quarter worth approximately $100,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Trading Up 1.6%

Shares of Acushnet stock opened at $84.66 on Thursday. Acushnet has a 1-year low of $55.31 and a 1-year high of $85.95. The company’s fifty day simple moving average is $80.76 and its 200-day simple moving average is $77.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. The stock has a market capitalization of $4.97 billion, a PE ratio of 23.13 and a beta of 0.89.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The company had revenue of $657.66 million during the quarter, compared to analysts’ expectations of $632.76 million. During the same quarter last year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is 25.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOLF shares. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Roth Capital reiterated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. Truist Financial increased their price target on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. KeyCorp lifted their price objective on Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus target price of $76.50.

Insider Transactions at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the sale, the insider owned 76,006 shares in the company, valued at approximately $6,434,667.96. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the transaction, the chief executive officer directly owned 852,092 shares in the company, valued at $67,596,458.36. This represents a 3.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 71,460 shares of company stock worth $5,786,311. Insiders own 53.60% of the company’s stock.

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.