Thornburg Investment Management Inc. Makes New $7.79 Million Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Thornburg Investment Management Inc. acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 122,776 shares of the company’s stock, valued at approximately $7,794,000. Thornburg Investment Management Inc. owned about 0.19% of Acushnet as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in Acushnet by 102.0% in the 2nd quarter. American Century Companies Inc. now owns 18,135 shares of the company’s stock worth $1,151,000 after acquiring an additional 9,156 shares during the period. Van Hulzen Asset Management LLC increased its stake in shares of Acushnet by 6.5% in the second quarter. Van Hulzen Asset Management LLC now owns 18,824 shares of the company’s stock worth $1,195,000 after purchasing an additional 1,155 shares during the period. Wedbush Securities Inc. lifted its position in shares of Acushnet by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after purchasing an additional 176 shares during the last quarter. Quest Partners LLC bought a new stake in Acushnet during the 2nd quarter valued at approximately $209,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Acushnet in the 2nd quarter valued at approximately $1,155,000. 53.12% of the stock is owned by institutional investors.

Insider Activity at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is owned by insiders.

Acushnet Stock Up 2.2 %

Shares of GOLF stock opened at $64.35 on Friday. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The stock has a fifty day moving average price of $66.66 and a 200 day moving average price of $64.89. The stock has a market cap of $4.06 billion, a P/E ratio of 22.34 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The business had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. Acushnet’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Analysts predict that Acushnet Holdings Corp. will post 3.02 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.215 per share. The ex-dividend date is Friday, September 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.34%. Acushnet’s dividend payout ratio (DPR) is presently 29.86%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial upped their price target on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Finally, Compass Point decreased their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Acushnet currently has an average rating of “Hold” and an average price target of $66.17.

About Acushnet

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.