Strategic Financial Concepts LLC Invests $1.27 Million in Acushnet Holdings Corp. (NYSE:GOLF)

Strategic Financial Concepts LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,912 shares of the company’s stock, valued at approximately $1,273,000.

Other large investors have also recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Acushnet by 10.6% during the third quarter. Creative Planning now owns 7,956 shares of the company’s stock worth $507,000 after purchasing an additional 762 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Acushnet during the third quarter valued at about $209,000. nVerses Capital LLC purchased a new stake in shares of Acushnet during the third quarter worth about $57,000. Raymond James & Associates boosted its holdings in Acushnet by 0.9% in the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock valued at $29,714,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet in the 3rd quarter valued at approximately $40,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOLF. Truist Financial upped their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd.

Acushnet Trading Down 0.6 %

Shares of Acushnet stock opened at $66.29 on Wednesday. The business has a fifty day simple moving average of $70.16 and a 200-day simple moving average of $67.70. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 22.55 and a beta of 0.86. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares of the company’s stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 54.60% of the company’s stock.

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.