Acushnet $GOLF Stock Position Lowered by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in shares of Acushnet (NYSE:GOLF) by 94.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,831 shares of the company’s stock after selling 67,192 shares during the period. ProShare Advisors LLC’s holdings in Acushnet were worth $316,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Acushnet in the 2nd quarter valued at $36,000. Kelleher Financial Advisors bought a new stake in Acushnet during the second quarter worth about $42,000. Public Employees Retirement System of Ohio bought a new stake in Acushnet in the 2nd quarter worth approximately $52,000. Compass Wealth Management LLC bought a new stake in shares of Acushnet in the 3rd quarter worth approximately $39,000. Finally, Signaturefd LLC lifted its stake in Acushnet by 93.1% in the third quarter. Signaturefd LLC now owns 475 shares of the company’s stock worth $39,000 after purchasing an additional 229 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on GOLF shares. Weiss Ratings lowered Acushnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Stephens lowered their price objective on shares of Acushnet from $88.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Roth Capital reissued a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Nine equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Acushnet currently has an average rating of “Hold” and an average price target of $97.67.

Acushnet Trading Down 1.3%

NYSE GOLF opened at $83.89 on Thursday. The company has a quick ratio of 1.07, a current ratio of 2.02 and a debt-to-equity ratio of 0.98. Acushnet has a twelve month low of $76.96 and a twelve month high of $119.65. The firm has a market capitalization of $4.80 billion, a PE ratio of 21.42 and a beta of 0.77. The stock’s 50 day moving average is $83.05 and its 200 day moving average is $93.91.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 4th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.15). Acushnet had a net margin of 8.17% and a return on equity of 27.92%. The business had revenue of $649.23 million for the quarter, compared to the consensus estimate of $647.99 million. During the same quarter last year, the firm posted $0.81 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts forecast that Acushnet will post 3.92 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.2550 per share. The ex-dividend date is Friday, December 4th. This represents a $1.02 annualized dividend and a dividend yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is presently 27.64%.

Acushnet Company Profile

Acushnet Holdings Corp. develops, manufactures and markets golf equipment, apparel and accessories. Its brands include Titleist, known for golf balls, clubs and related equipment; FootJoy, which offers golf footwear, gloves and apparel; and Scotty Cameron and Vokey Design, which specialize in putters and wedges. The company also sells golf balls under the Pinnacle brand. Acushnet traces its roots to 1910, when it was established as the Acushnet Process Company. Over time, it became focused on golf and built a portfolio of brands serving recreational and professional players.