Virtu Financial LLC Buys New Holdings in Acushnet $GOLF

Virtu Financial LLC purchased a new position in shares of Acushnet (NYSE:GOLF) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 7,980 shares of the company’s stock, valued at approximately $637,000.

Other large investors have also bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after purchasing an additional 115,000 shares during the period. Morgan Stanley increased its stake in shares of Acushnet by 22.3% in the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after buying an additional 251,889 shares during the period. Raymond James Financial Inc. raised its holdings in Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after buying an additional 4,243 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Acushnet by 238.0% during the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after buying an additional 495,794 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after buying an additional 110,245 shares during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Down 0.9%

Shares of Acushnet stock opened at $106.81 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The company’s fifty day simple moving average is $93.62 and its two-hundred day simple moving average is $92.74. The company has a market cap of $6.25 billion, a P/E ratio of 37.61 and a beta of 0.85. Acushnet has a 12-month low of $70.37 and a 12-month high of $108.66.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company had revenue of $752.98 million during the quarter, compared to the consensus estimate of $722.48 million. During the same quarter last year, the company posted $1.62 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Research analysts anticipate that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet’s dividend payout ratio is presently 35.92%.

Insider Transactions at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the sale, the insider owned 2,868 shares of the company’s stock, valued at $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 53.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOLF has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Roth Mkm set a $87.00 target price on shares of Acushnet in a report on Thursday, May 7th. Truist Financial increased their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings cut Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Finally, UBS Group set a $100.00 price target on Acushnet in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Acushnet presently has a consensus rating of “Hold” and an average price target of $94.17.

Acushnet Company 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.