Marsico Capital Management LLC Has $6.37 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Marsico Capital Management LLC trimmed its position in Acushnet Holdings Corp. (NYSE:GOLF) by 18.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,319 shares of the company’s stock after selling 22,014 shares during the period. Marsico Capital Management LLC’s holdings in Acushnet were worth $6,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GOLF. Renaissance Technologies LLC lifted its stake in Acushnet by 310.2% in the 2nd quarter. Renaissance Technologies LLC now owns 24,200 shares of the company’s stock valued at $1,536,000 after acquiring an additional 18,300 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Acushnet by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 130,868 shares of the company’s stock worth $8,307,000 after purchasing an additional 8,248 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in Acushnet in the second quarter valued at $7,794,000. American Century Companies Inc. increased its stake in Acushnet by 102.0% in the 2nd quarter. American Century Companies Inc. now owns 18,135 shares of the company’s stock valued at $1,151,000 after buying an additional 9,156 shares during the last quarter. Finally, Van Hulzen Asset Management LLC lifted its position in Acushnet by 6.5% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 18,824 shares of the company’s stock worth $1,195,000 after buying an additional 1,155 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Stock Down 3.8 %

GOLF opened at $63.36 on Wednesday. Acushnet Holdings Corp. has a 1-year low of $49.42 and a 1-year high of $74.77. The stock has a market cap of $4.00 billion, a PE ratio of 22.00 and a beta of 0.85. The stock’s fifty day simple moving average is $66.95 and its 200 day simple moving average is $64.80. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81.

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

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, September 6th. Acushnet’s dividend payout ratio is currently 29.86%.

Insider Activity

In related news, Director Holdings Corp. Fila sold 587,520 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the transaction, the director now directly owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOLF has been the topic of several analyst reports. Truist Financial upped their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Compass Point cut their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised 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, Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $86.00 to $75.00 in a research report on Tuesday. Six 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, the stock presently has a consensus rating of “Hold” and an average target price of $67.43.

Acushnet Company 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.