Acushnet $GOLF Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in shares of Acushnet (NYSE:GOLF) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 282,884 shares of the company’s stock after selling 9,721 shares during the period. Voya Investment Management LLC’s holdings in Acushnet were worth $22,204,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. increased its stake in Acushnet by 9.9% during the first quarter. American Century Companies Inc. now owns 20,742 shares of the company’s stock worth $1,424,000 after acquiring an additional 1,860 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Acushnet by 8.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 246,963 shares of the company’s stock valued at $17,984,000 after purchasing an additional 19,612 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Acushnet by 61,260.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 12,272 shares of the company’s stock worth $894,000 after purchasing an additional 12,252 shares during the period. Comerica Bank increased its position in Acushnet by 35.5% during the 1st quarter. Comerica Bank now owns 34,317 shares of the company’s stock worth $2,356,000 after purchasing an additional 8,994 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Acushnet by 35.1% during the 2nd quarter. Fisher Asset Management LLC now owns 208,357 shares of the company’s stock worth $15,173,000 after purchasing an additional 54,088 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Performance

NYSE:GOLF opened at $82.42 on Monday. Acushnet has a 1-year low of $55.31 and a 1-year high of $86.19. The stock has a market cap of $4.83 billion, a P/E ratio of 22.52 and a beta of 0.89. 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 firm has a 50-day moving average of $81.28 and a two-hundred day moving average of $78.32.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $657.66 million during the quarter, compared to analysts’ expectations of $632.76 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is presently 25.68%.

Analyst Ratings Changes

Several equities research analysts have issued reports on GOLF shares. JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a research note on Monday, December 15th. KeyCorp lifted their target price on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Roth Capital reiterated a “neutral” rating and issued a $80.00 price target on shares of Acushnet in a report on Thursday, November 6th. Truist Financial raised their price objective on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $78.17.

Insiders Place Their Bets

In related news, CEO David Eugene Maher sold 26,939 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the sale, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction 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 transaction, the insider owned 76,006 shares in the company, valued at $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 71,460 shares of company stock valued at $5,786,311. Insiders own 53.60% of the company’s stock.

Acushnet Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.