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GOLF Acushnet

Acushnet Holdings is the global leader in the design, development, manufacture and distribution of performance-driven golf products, which are widely recognized for their quality excellence. Driven by our focus on dedicated and discerning golfers and the golf shops that serve them,we believe we are the most authentic and enduring company in the golf industry. Our mission - to be the performance and quality leader in every golf product category in which we compete -has remained consistent since we entered the golf ball business in 1932. Today, we are the steward of two of the most revered brands in golf - Titleist, one of golf's leading performance equipment brands, and FootJoy, one of golf's leading performance wear brands.

Company profile

Ticker
GOLF
Exchange
CEO
David Maher
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Acushnet Company • AASI, Inc. • ACTM LLC • Acushnet Australia • Acushnet Canada Inc. • Acushnet Cayman Limited • Acushnet Danmark ApS • Acushnet Europe Ltd. • Acushnet FootJoy (Thailand) Limited • Acushnet France S.A.S. ...

GOLF stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
16 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Acushnet earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
28 Sep 21 Roland A Giroux Common Stock Grant Acquire A No No 0 2,558 0 24,149
17 Sep 21 Mary Louise Bohn Common Stock Grant Acquire A No No 50.69 277 14.04K 117,907
17 Sep 21 Sullivan Sean S Common Stock Grant Acquire A No No 50.69 65 3.29K 26,589
17 Sep 21 Estabrook Jennifer O Common Stock Grant Acquire A No No 50.69 65 3.29K 29,389
17 Sep 21 Thomas Pacheco Common Stock Grant Acquire A No No 50.69 145 7.35K 50,366

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 178 177 +0.6%
Opened positions 25 28 -10.7%
Closed positions 24 20 +20.0%
Increased positions 67 62 +8.1%
Reduced positions 59 55 +7.3%
13F shares
Current Prev Q Change
Total value 3.3B 3.46B -4.6%
Total shares 74.95M 73.72M +1.7%
Total puts 0 0
Total calls 10K 0 NEW
Total put/call ratio
Largest owners
Shares Value Change
FILA 38.81M $1.26B 0.0%
Kayne Anderson Rudnick Investment Management 8.44M $417.02M +16.4%
Wellington Management 3.17M $156.8M -6.0%
Vanguard 3.1M $153.37M +2.1%
BLK Blackrock 2.44M $120.39M -7.3%
JPM JPMorgan Chase & Co. 2.29M $113.06M -3.8%
PFG Principal Financial Group Inc - Registered Shares 1.98M $97.94M +0.6%
Dimensional Fund Advisors 1.43M $70.46M -10.1%
Van Berkom & Associates 1.28M $63.3M -36.1%
MCQEF Macquarie 1.21M $59.71M -1.3%
Largest transactions
Shares Bought/sold Change
Kayne Anderson Rudnick Investment Management 8.44M +1.19M +16.4%
FMR 871.67K +739.22K +558.1%
Van Berkom & Associates 1.28M -722.64K -36.1%
Assenagon Asset Management 313.79K +259.93K +482.6%
Wellington Management 3.17M -202.42K -6.0%
BLK Blackrock 2.44M -191.23K -7.3%
Dimensional Fund Advisors 1.43M -160.69K -10.1%
DB Deutsche Bank AG - Registered Shares 35.77K -145.83K -80.3%
JPM JPMorgan Chase & Co. 2.29M -91.53K -3.8%
D. E. Shaw & Co. 137.72K +86.32K +167.9%

Financial report summary

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Competition
NikeBridgestoneCallaway GolfUnder ArmourAdidas
Risks
  • A reduction in the number of rounds of golf played or in the number of golf participants could materially adversely affect our business, financial condition and results of operations.
  • Unfavorable weather conditions may impact the number of playable days and rounds played in a given year.
  • Consumer spending habits and macroeconomic factors may affect the number of rounds of golf played and related spending on golf products.
  • Demographic factors may affect the number of golf participants and related spending on our products.
  • Our business, financial position, results of operations and cash flows have been, and could continue to be, negatively impacted by the COVID-19 pandemic.
  • Changes to the Rules of Golf with respect to equipment could materially adversely affect our business, financial condition and results of operations.
  • A significant disruption in the operations of our manufacturing, assembly or distribution facilities could materially adversely affect our business, financial condition and results of operations.
  • Many of our raw materials or components of our products are provided by a sole or limited number of third‑party suppliers and manufacturers.
  • A disruption in the operations of our suppliers could materially adversely affect our business, financial condition and results of operations.
  • The cost of raw materials and components could affect our operating results.
  • Our operations are conducted worldwide and our results of operations are subject to currency transaction risk and currency translation risk that could materially adversely affect our business, financial condition and results of operations.
  • We may not successfully manage the frequent introduction of new products or satisfy changing consumer preferences, quality and regulatory standards.
  • Failure to successfully innovate and offer high‑quality products may adversely affect our ability to compete in the market for our products.
  • Failure to adequately enforce and protect our intellectual property rights could materially adversely affect our business, financial condition and results of operations.
  • We may be involved in lawsuits to protect, defend or enforce our intellectual property rights, which could be expensive, time consuming and unsuccessful.
  • Our products may infringe the intellectual property rights of others, which may cause us to incur unexpected costs or prevent us from selling our products.
  • Changes to patent laws could adversely affect our ability to protect our intellectual property.
  • We face intense competition in each of our markets and if we are unable to maintain a competitive advantage, loss of market share, sales or profitability may result.
  • We may have limited opportunities for future growth in sales of certain of our products, including golf balls, golf shoes and golf gloves.
  • A severe or prolonged economic downturn could adversely affect our customers’ financial condition, their levels of business activity and their ability to pay trade obligations.
  • A decrease in corporate spending on our custom logo golf balls could materially adversely affect our business, financial condition and results of operations.
  • We depend on retailers and distributors to market and sell our products, and our failure to maintain and further develop our sales channels could materially adversely affect our business, financial condition and results of operations.
  • Consolidation of retailers or concentration of retail market share among a few retailers may increase and concentrate our credit risk, put pressure on our margins and impair our ability to sell products.
  • Our business depends on strong brands, and if we are not able to maintain and enhance our brands we may be unable to sell our products.
  • Our business operations are subject to seasonal fluctuations, which could result in fluctuations in our operating results and stock price.
  • Our business and results of operations are also subject to fluctuations based on the timing of new product introductions.
  • We have significant international operations and are exposed to risks associated with doing business globally.
  • Failure to comply with laws, regulations and policies, including the FCPA or other applicable anti‑corruption legislation, could result in fines and criminal penalties and materially adversely affect our business, financial condition and results of operations.
  • Our business, financial condition and results of operations could be materially adversely affected if professional golfers do not endorse or use our products.
  • The value of our brands and sales of our products could be diminished if we, the golfers who use our products or the golf industry in general are associated with negative publicity.
  • If we inaccurately forecast demand for our products, we may manufacture insufficient or excess quantities, which could materially adversely affect our business, financial condition and results of operations.
  • We may experience a disruption in the service, or a significant increase in the cost, of our primary delivery and shipping services for our products and component parts or a significant disruption at shipping ports.
  • We rely on complex information systems for management of our manufacturing, distribution, sales and other functions. If our information systems fail to perform these functions adequately or if we experience an interruption in our operations, including a breach in cybersecurity, our business, financial condition and results of operations could be materially adversely affected.
  • Cybersecurity risks could disrupt our operations and negatively impact our reputation.
  • If the technology‑based systems that give consumers the ability to shop with us online do not function effectively, our ability to grow our eCommerce business globally could be adversely affected.
  • Goodwill and identifiable intangible assets represent a significant portion of our total assets and any impairment of these assets could negatively impact our results of operations and shareholders’ equity.
  • Our current senior management team and other key employees are critical to our success and if we are unable to attract and/or retain key employees and hire qualified management, technical and manufacturing personnel, our ability to compete could be harmed.
  • Sales of our products by unauthorized retailers or distributors could adversely affect our authorized distribution channels and harm our reputation.
  • We may not be successful in our efforts to grow our presence in existing international markets and expand into additional international markets.
  • We are exposed to a number of different tax uncertainties, including potential changes in tax laws, unanticipated tax liabilities and limitations on utilization of tax attributes after any change of control, which could materially adversely affect our business, financial condition and results of operations.
  • Our insurance policies may not provide adequate levels of coverage against all claims and we may incur losses that are not covered by our insurance.
  • We are subject to product liability, warranty and recall claims, and our insurance coverage may not cover such claims.
  • We may be subject to litigation and other regulatory proceedings which may result in the expense of time and resources and could materially adversely affect our business, financial condition and results of operations.
  • We are subject to environmental, health and safety laws and regulations, which could subject us to liabilities, increase our costs or restrict our operations in the future.
  • We may require additional capital in the future and we cannot give any assurance that such capital will be available at all or available on terms acceptable to us and, if it is available, additional capital raised by us may dilute holders of our common stock.
  • If our estimates or judgments relating to our critical accounting estimates prove to be incorrect, our financial condition and results of operations could be adversely affected.
  • Terrorist activities and international political instability may decrease demand for our products and disrupt our business.
  • Our business could be harmed by the occurrence of natural disasters or pandemic diseases.
  • Our substantial leverage could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or in our industry, expose us to interest rate risk to the extent of our variable rate debt, and prevent us from meeting our obligations under our indebtedness.
  • Servicing our indebtedness will require a significant amount of cash. Our ability to generate sufficient cash depends on many factors, some of which are not within our control.
  • Despite our high indebtedness level, we and our subsidiaries may still be able to incur significant additional amounts of debt, which could further exacerbate the risks associated with our substantial indebtedness.
  • Our credit agreements contain restrictions that limit our flexibility in operating our business.
  • We utilize derivative financial instruments to reduce our exposure to market risks from changes in interest rates on our variable rate indebtedness and we are exposed to risks related to counterparty credit worthiness or non‑performance of these instruments.
  • The interests of Magnus and Fila and any of their successors or transferees may conflict with other holders of our common stock.
  • The market price of shares of our common stock may be volatile, which could cause the value of your investment to decline.
  • If we are unable to maintain effective internal controls over financial reporting, we may not be able to produce timely and accurate financial statements, which could have a material adverse effect on our business and stock price.
  • We cannot assure you that we will pay dividends on our common stock, and our indebtedness and other factors could limit our ability to pay dividends on our common stock.
  • Acushnet Holdings Corp. is a holding company with no operations of its own and, as such, it depends on its subsidiaries for cash to fund all of its operations and expenses, including future dividend payments, if any.
  • You may be diluted by the future issuance of additional common stock in connection with our incentive plans, acquisitions or otherwise.
  • Future sales, or the perception of future sales, by us or our existing shareholders in the public market could cause the market price for our common stock to decline.
  • Anti‑takeover provisions in our organizational documents and Delaware law might discourage or delay acquisition attempts for us that you might consider favorable.
  • If securities analysts do not publish research or reports about our business or if they downgrade our stock or our sector, our stock price and trading volume could decline.
Management Discussion
  • (1)Relates to severance and other costs associated with management's program to refine the Company's business model and improve operational efficiencies.
  • (2)The three and six months ended June 30, 2021 include pension settlement costs of $0.1 million and $1.5 million, respectively, related to lump-sum distributions to participants in our defined benefit plans as a result of the voluntary retirement program as part of management’s approved restructuring program, as well as other immaterial unusual or non-recurring items, net.
  • (3)The three and six months ended June 30, 2020 include salaries and benefits paid for associates who could not work due to government mandated shutdowns, fringe benefits paid for furloughed associates, spoiled raw materials, incremental costs to support remote work and the cost of additional health and safety equipment of $6.0 million and $13.5 million, respectively. The three and six months ended June 30, 2020 also include $3.9 million of pension settlement costs related to lump-sum distributions to participants in our defined benefit plans as a result of the voluntary retirement plan as part of management’s approved restructuring program, as well as other immaterial unusual or non-recurring items, net for the three and six months ended June 30, 2020.
Content analysis
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Positive
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Legalese
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Readability
H.S. sophomore Avg
New words: combined, comprised, consulting, coupled, elevated, nonrecurring, redemption
Removed: bringing, continuation, designed, disrupted, distancing, EMEA, entirety, Europe, forced, longer, partner, planning, recreational, reopened, salary, shift, social, substantially, varying

Patents

APP
Utility
Coatings for Golf Balls Having a Thermoplastic Polyurethane Cover
14 Oct 21
Methods for coatings for golf balls, particularly golf balls having thermoplastic polyurethane covers, and the resulting finished balls are provided.
APP
Utility
Method for Forming Polyurethane Covers for Golf Balls Using Foam Compositions
14 Oct 21
The present invention provides methods for producing molded golf balls and the resultant balls.
APP
Utility
Striking Face of a Golf Club Head
14 Oct 21
An improved striking face of a golf club head is disclosed.
APP
Utility
Method of Making Golf Ball and Resulting Golf Ball
14 Oct 21
Method of making golf ball comprising providing subassembly and forming at least one layer thereabout comprised of a thermoset polyurethane created using prepolymer prepared by: reacting stoichiometric excess of first isocyanate with at least one long chain polyol and/or polyamine soft segment to create first isocyanate-terminated first prepolymer with (% NCO)FIRST PREPOLYMER; and adding stoichiometric excess of additional isocyanate to the first isocyanate-terminated first prepolymer to produce modified-first prepolymer with (% NCO)MODIFIED-FIRST PREPOLYMER; wherein (% NCO)MODIFIED-FIRST PREPOLYMER>(% NCO)FIRST PREPOLYMER.
APP
Utility
BUOYANT HIGH COEFFICIENT OF RESTITUTION (CoR) GOLF BALL INCORPORATING AERODYNAMICS TARGETING FLIGHT TRAJECTORY
7 Oct 21
Buoyant dimpled golf ball having CoR ≥0.810, specific gravity <1.00 g/cc, initial velocity ≥250 ft/s, first aerodynamic coefficient magnitude between about 0.25 and about 0.30 and first aerodynamic force angle between about 29 degrees and 34 degrees at Reynolds Number of 230000 and spin ratio of 0.085; and second aerodynamic coefficient magnitude between about 0.26 and about 0.31 and second aerodynamic force angle between about 31 degrees and 36 degrees at Reynolds Number of 180000 and spin ratio of 0.101.