Acushnet $GOLF Shares Purchased by Boyar Asset Management Inc.

Boyar Asset Management Inc. boosted its position in Acushnet (NYSE:GOLF) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,088 shares of the company’s stock after acquiring an additional 524 shares during the quarter. Boyar Asset Management Inc.’s holdings in Acushnet were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Acushnet during the 4th quarter valued at about $31,000. KBC Group NV bought a new stake in Acushnet in the first quarter valued at about $44,000. GAMMA Investing LLC increased its holdings in Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $45,000 after buying an additional 319 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Acushnet by 487.7% in the first quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $80,000 after buying an additional 990 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Acushnet in the first quarter valued at about $112,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOLF. KeyCorp upped their target price on Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research report on Saturday, September 27th. Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Morgan Stanley upped their target price on Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.00.

Insiders Place Their Bets

In other news, Director Holdings Corp. Misto sold 953,406 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 29,523,653 shares of the company’s stock, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction on 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 directly owned 191,786 shares in the company, valued at $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 53.60% of the company’s stock.

Acushnet Price Performance

GOLF opened at $80.54 on Friday. The stock has a fifty day moving average of $77.30 and a 200-day moving average of $72.17. The firm has a market capitalization of $4.72 billion, a P/E ratio of 21.53 and a beta of 0.89. Acushnet has a 12-month low of $55.31 and a 12-month high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13.

Acushnet (NYSE:GOLF) last released its earnings results 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 analysts’ expectations of $713.70 million. During the same quarter in the previous year, the company earned $1.11 EPS. Acushnet’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet’s dividend payout ratio is 25.13%.

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.