London Co. of Virginia Sells 16,951 Shares of Acushnet $GOLF

London Co. of Virginia lowered its holdings in Acushnet (NYSE:GOLF) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 440,087 shares of the company’s stock after selling 16,951 shares during the period. London Co. of Virginia’s holdings in Acushnet were worth $34,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its holdings in shares of Acushnet by 60.5% during the third quarter. Integrated Wealth Concepts LLC now owns 7,808 shares of the company’s stock valued at $613,000 after purchasing an additional 2,942 shares in the last quarter. Aquatic Capital Management LLC increased its holdings in Acushnet by 43.4% in the 3rd quarter. Aquatic Capital Management LLC now owns 48,208 shares of the company’s stock worth $3,784,000 after buying an additional 14,584 shares in the last quarter. Creative Planning increased its holdings in Acushnet by 13.9% in the 3rd quarter. Creative Planning now owns 8,348 shares of the company’s stock worth $655,000 after buying an additional 1,019 shares in the last quarter. SummitTX Capital L.P. raised its position in Acushnet by 26.8% in the 3rd quarter. SummitTX Capital L.P. now owns 22,114 shares of the company’s stock worth $1,736,000 after buying an additional 4,674 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new position in Acushnet in the 3rd quarter worth about $28,000. 53.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOLF has been the topic of a number of recent analyst reports. UBS Group set a $100.00 price target on shares of Acushnet in a report on Thursday, February 26th. KeyCorp reissued a “sector weight” rating on shares of Acushnet in a report on Friday, January 16th. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings cut shares of Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Nine equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Acushnet currently has an average rating of “Hold” and a consensus target price of $89.57.

Insider Activity at Acushnet

In other news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the transaction, the director owned 37,017 shares of the company’s stock, valued at $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 53.60% of the stock is owned by company insiders.

Acushnet Trading Up 1.5%

Shares of GOLF stock opened at $94.46 on Tuesday. Acushnet has a 1 year low of $55.31 and a 1 year high of $104.81. The firm has a fifty day moving average price of $96.16 and a 200-day moving average price of $85.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.38 and a quick ratio of 0.97. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 30.47 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). The company had revenue of $477.22 million during the quarter, compared to the consensus estimate of $453.59 million. Acushnet had a return on equity of 25.49% and a net margin of 7.37%.Acushnet’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) earnings per share. As a group, equities analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $0.255 dividend. The ex-dividend date is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is currently 32.90%.

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.