Curated Wealth Partners LLC Sells 50,665 Shares of Acushnet $GOLF

Curated Wealth Partners LLC reduced its stake in shares of Acushnet (NYSE:GOLF) by 85.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,711 shares of the company’s stock after selling 50,665 shares during the quarter. Curated Wealth Partners LLC’s holdings in Acushnet were worth $719,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Acushnet by 467.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,191 shares of the company’s stock valued at $98,000 after purchasing an additional 981 shares during the last quarter. Nykredit A S bought a new position in shares of Acushnet in the second quarter worth about $164,000. Corient Private Wealth LP lifted its position in shares of Acushnet by 598.9% during the second quarter. Corient Private Wealth LP now owns 41,237 shares of the company’s stock worth $4,888,000 after purchasing an additional 35,337 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Acushnet by 42.8% during the second quarter. HighTower Advisors LLC now owns 9,864 shares of the company’s stock worth $1,169,000 after purchasing an additional 2,957 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Acushnet during the second quarter valued at approximately $225,000. 53.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Stephens lowered their target price on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Roth Capital reissued a “neutral” rating and issued a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. Finally, Weiss Ratings cut Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Acushnet presently has a consensus rating of “Hold” and an average target price of $96.57.

Acushnet Stock Performance

NYSE:GOLF opened at $79.48 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01. The stock has a 50 day simple moving average of $85.12 and a 200 day simple moving average of $94.46. Acushnet has a 1-year low of $75.16 and a 1-year high of $119.65. The stock has a market cap of $4.64 billion, a P/E ratio of 19.75 and a beta of 0.79.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%. The business had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. During the same quarter in the prior year, the business posted $1.25 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts anticipate that Acushnet will post 4.02 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $0.2550 per share. The ex-dividend date was Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a yield of 1.3%. Acushnet’s payout ratio is currently 27.79%.

Acushnet Company Profile

Acushnet Holdings Corp. is a golf equipment and apparel company that develops, manufactures and markets products for golfers worldwide. Its portfolio includes golf clubs, golf balls, golf shoes, gloves, apparel, accessories and other golf-related equipment.

The company’s principal brands include Titleist, known for golf balls, clubs and equipment; FootJoy, which offers golf footwear, gloves and apparel; Scotty Cameron, which produces premium putters; Vokey Design, which specializes in wedges; and KJUS, a performance golf and outdoor apparel brand.