ProShare Advisors LLC Sells 67,192 Shares of Acushnet $GOLF

ProShare Advisors LLC cut its position in shares of Acushnet (NYSE:GOLF) by 94.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,831 shares of the company’s stock after selling 67,192 shares during the quarter. ProShare Advisors LLC’s holdings in Acushnet were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Moody Aldrich Partners LLC boosted its position in shares of Acushnet by 4.1% during the 3rd quarter. Moody Aldrich Partners LLC now owns 50,836 shares of the company’s stock valued at $4,194,000 after purchasing an additional 2,023 shares in the last quarter. Signaturefd LLC grew its holdings 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 period. Fifth Third Wealth Advisors LLC increased its stake in Acushnet by 78.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,395 shares of the company’s stock valued at $445,000 after purchasing an additional 2,364 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Acushnet by 842.9% during the third quarter. Sterling Capital Management LLC now owns 924 shares of the company’s stock valued at $76,000 after purchasing an additional 826 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in shares of Acushnet during the third quarter valued at about $39,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Acushnet Stock Down 1.3%

GOLF stock opened at $83.89 on Thursday. The stock has a market cap of $4.80 billion, a P/E ratio of 21.42 and a beta of 0.77. The company has a current ratio of 2.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $83.05 and its two-hundred day simple moving average is $93.91. Acushnet has a 1-year low of $76.96 and a 1-year high of $119.65.

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

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, December 4th. Acushnet’s dividend payout ratio is currently 27.64%.

About Acushnet

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.