Simplicity Wealth LLC Takes Position in Acushnet Holdings Corp. (NYSE:GOLF)

Simplicity Wealth LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,914 shares of the company's stock, valued at approximately $563,000.

A number of other large investors also recently bought and sold shares of the business. US Bancorp DE grew its stake in Acushnet by 8.2% in the third quarter. US Bancorp DE now owns 9,897 shares of the company's stock valued at $631,000 after purchasing an additional 753 shares during the last quarter. Atria Investments Inc increased its position in shares of Acushnet by 7.5% during the third quarter. Atria Investments Inc now owns 23,622 shares of the company's stock worth $1,506,000 after purchasing an additional 1,650 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Acushnet during the 3rd quarter valued at $654,000. Victory Capital Management Inc. boosted its position in shares of Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock worth $68,384,000 after purchasing an additional 81,065 shares in the last quarter. Finally, Lummis Asset Management LP grew its stake in Acushnet by 11.6% during the 3rd quarter. Lummis Asset Management LP now owns 34,497 shares of the company's stock worth $2,199,000 after buying an additional 3,574 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOLF. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. KeyCorp cut their price target on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and cut their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Acushnet currently has a consensus rating of "Hold" and a consensus target price of $72.80.

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Acushnet Price Performance

GOLF traded up $0.97 during trading on Friday, hitting $65.37. The company's stock had a trading volume of 423,571 shares, compared to its average volume of 347,294. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The business's fifty day simple moving average is $68.22 and its 200 day simple moving average is $67.62. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 22.24 and a beta of 0.79. Acushnet Holdings Corp. has a twelve month low of $58.54 and a twelve month high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to analysts' expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. On average, equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.235 per share. This is a boost from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, March 7th. Acushnet's payout ratio is 28.23%.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 54.60% of the company's stock.

Acushnet Company 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.