Parametric Portfolio Associates LLC Sells 5,086 Shares of Acushnet Holdings Corp (NYSE:GOLF)

Parametric Portfolio Associates LLC decreased its position in Acushnet Holdings Corp (NYSE:GOLF) by 6.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 77,739 shares of the company’s stock after selling 5,086 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Acushnet were worth $2,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOLF. Public Employees Retirement System of Ohio lifted its stake in Acushnet by 89.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,018 shares of the company’s stock valued at $27,000 after acquiring an additional 482 shares in the last quarter. Bank of Montreal Can lifted its stake in Acushnet by 790.6% in the 2nd quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock valued at $86,000 after acquiring an additional 2,933 shares in the last quarter. Amica Retiree Medical Trust bought a new stake in Acushnet in the 2nd quarter valued at approximately $109,000. Aperio Group LLC bought a new stake in Acushnet in the 2nd quarter valued at approximately $135,000. Finally, Amica Mutual Insurance Co. bought a new stake in Acushnet in the 2nd quarter valued at approximately $686,000. Hedge funds and other institutional investors own 48.05% of the company’s stock.

GOLF stock opened at $25.98 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 1.24 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.97 billion, a PE ratio of 19.68, a PEG ratio of 3.46 and a beta of 0.97. Acushnet Holdings Corp has a 1-year low of $20.24 and a 1-year high of $28.72. The business’s 50 day simple moving average is $26.40 and its 200 day simple moving average is $25.39.



Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The business had revenue of $462.22 million for the quarter, compared to analyst estimates of $484.88 million. Acushnet had a return on equity of 9.81% and a net margin of 5.71%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, sell-side analysts predict that Acushnet Holdings Corp will post 1.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Acushnet’s payout ratio is presently 42.42%.

Several research analysts have weighed in on GOLF shares. Wells Fargo & Co set a $25.00 price target on Acushnet and gave the stock a “hold” rating in a research report on Friday, August 9th. ValuEngine lowered Acushnet from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Zacks Investment Research raised Acushnet from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, October 3rd. Finally, SunTrust Banks lowered Acushnet from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $26.36.

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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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