Integrated Wealth Concepts LLC Sells 245 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Integrated Wealth Concepts LLC lessened its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,207 shares of the company’s stock after selling 245 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Acushnet were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after purchasing an additional 889,515 shares during the period. FMR LLC grew its stake in shares of Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after acquiring an additional 10,762 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Acushnet during the 3rd quarter worth $1,443,000. Raymond James & Associates grew its stake in shares of Acushnet by 0.9% during the 3rd quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after acquiring an additional 4,300 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Acushnet by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 130,868 shares of the company’s stock worth $8,307,000 after acquiring an additional 8,248 shares during the period. Institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

GOLF has been the subject of several research reports. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and cut their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial raised their target price on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $71.40.

Acushnet Stock Down 2.8 %

Shares of NYSE GOLF opened at $73.37 on Friday. Acushnet Holdings Corp. has a 52 week low of $57.74 and a 52 week high of $76.59. The business has a 50-day simple moving average of $67.58 and a two-hundred day simple moving average of $66.23. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.46 billion, a P/E ratio of 24.96 and a beta of 0.88.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $620.50 million for the quarter, compared to analysts’ expectations of $620.40 million. During the same quarter last year, the firm posted $0.85 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.17%. Acushnet’s payout ratio is currently 29.25%.

Insider Buying and Selling at Acushnet

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now directly owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 54.60% of the company’s stock.

Acushnet 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.