Landscape Capital Management L.L.C. Makes New $3.64 Million Investment in Acushnet $GOLF

Landscape Capital Management L.L.C. bought a new position in Acushnet (NYSE:GOLF) in the 2nd quarter, HoldingsChannel reports. The fund bought 30,693 shares of the company’s stock, valued at approximately $3,638,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Acushnet by 6.6% in the first quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock worth $6,090,000 after purchasing an additional 5,510 shares during the period. AQR Capital Management LLC raised its holdings in shares of Acushnet by 2.5% during the first quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after purchasing an additional 475 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of Acushnet by 13.5% during the first quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after purchasing an additional 548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Acushnet by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after buying an additional 460 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Acushnet by 39.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after buying an additional 70,095 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Performance

Shares of GOLF opened at $89.03 on Friday. The firm has a fifty day moving average of $104.68 and a 200-day moving average of $98.27. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 24.26 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65.

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

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.255 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.02 annualized dividend and a yield of 1.1%. Acushnet’s dividend payout ratio is 27.79%.

Insider Activity at Acushnet

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider owned 2,868 shares in the company, valued at approximately $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction that occurred on 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 sale, the insider directly owned 70,512 shares in the company, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOLF shares. Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Roth Capital reissued a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a report on Friday, August 7th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. upped their target price on Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Truist Financial increased their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Acushnet has a consensus rating of “Hold” and an average price target of $99.17.

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.