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Acushnet IPO off to an underwhelming start

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Acushnet (GOLF), the umbrella company for Titliest, opened on the New York Stock Exchange on Friday at $17 per share, below the originally expected price range of $21-24.

On Friday, GOLF hovered between $16.90 and $18, ultimately closing at $17.95 on the day. The IPO was for 19.3 million shares, raising $329 million for Acushnet’s existing investors.

CNN Money compared the stock’s small percentage gains to, very fittingly, the sport of golf: “It’s like finally hitting a shot onto the green — after you’ve already plunked your ball in a water hazard a few times.”

The Boston Globe piled on, saying Acushnet “made a bogey in its debut.”

After a proverbial bogey on the first hole, Acushnet’s leadership is looking toward the future; the next 17 holes, if you will.

“I don’t get caught up in the day to day,” Acushnet CEO Wally Uihlein told the Boston Globe. “I’m looking long-term. Over time, we have a very strong track record of delivering the kind of financial results that we think make an attractive investment opportunity.”

Acushnet is owned by Fila Korea Ltd., which purchased the company from Fortune Brands in 2011. Acushnet registered $1.5 billion in sales during a 12-month period ending this past June.

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9 Comments

9 Comments

  1. JustTrying2BAwesome

    Oct 31, 2016 at 6:39 pm

    I’m buying 1 share. Karma to the golf gods praying I can make a hole in one someday. Someday…

  2. King of Carlsbad

    Oct 31, 2016 at 12:12 pm

    Acushnet does not sell a lot of golf clubs now (380 million/yr) and is unlikely to sell a lot more in the future, so it will be interesting if the Pro V1 and FJ shoes can keep this stock afloat.

  3. Large chris

    Oct 31, 2016 at 10:39 am

    I lolled at Wally Uilein reckoning he’s not caught up in the day to day. Hahahahaha he’s obviously not had to do many investor conference calls. They’ll want his numbers am and pm.
    Corporate investors won’t put up with that, I give him 3 months tops.

  4. Nolanski

    Oct 31, 2016 at 7:12 am

    Inflation is very low right now

    • Steve S

      Nov 1, 2016 at 8:42 am

      Bubba, 20%!!?? Really? Where do you live? Since I track such things with my financial programs my personal findings (in the mid west over last year) are as follows:

      1. Food we buy from the supermarket is almost even from last year (up .1%)
      2. Housing costs up about 4% (utilities, taxes, mortgage didn’t change)
      3. Gasoline for car down 15%
      4. Healthcare up about 4% (insurance premiums)

      Buying a house would be up because prices were in the toilet for so long; they would naturally be up after hitting 15 year lows.

  5. John M.P. thirty-three

    Oct 29, 2016 at 1:04 pm

    If the asset was a cash cow why would Fila shed it?
    …rough times ahead for shareholder s.

  6. Philip

    Oct 29, 2016 at 11:47 am

    Not failing at the moment, but now that they have shareholders on board the fall will slowly begin. Shareholders do not care one bit (the bigger ones at least) about the company – they care about their investment “share price” and want it to grow. In a flatlined industry with no star stepping up for likely quite a while they have two options to grow share price – increase price and decrease quality … I suspect prices are near the max now for what the larger public can afford so reducing quality will likely be next – let the tumble begin.

  7. J.R.

    Oct 29, 2016 at 10:05 am

    why would one invest in a failing company–or one that is at best on it’s way downhill instead of uphill!!

    • Steve S

      Nov 1, 2016 at 8:44 am

      Good question, J.R. If there were something available to buy that would allow you to “long term”(1 year or more) short this stock I’d buy a bunch of shorts. It’ll be $10-12 range in a year.

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On Spec

On Spec: Rickie Fowler Rev33 irons and more signature golf clubs

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This week’s show is all about signature golf clubs, brought on by the release of the Cobra RF Proto Rev33 irons. From big-name players to historical releases there is a lot to cover from the world of modern equipment.

But before that host, Ryan Barath has something to get off his chest about pro-am golf and TV coverage.

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Opinion & Analysis

“Golfers pay way too much attention to iron lofts” – On Spec podcast

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On this week’s episode of the “On Spec” podcast on the GolfWRX radio network hosted by Ryan Barath, the main focus of the show was on the misconception around fitting irons based on handicap and the focus on iron lofts – AKA “loft jacking”

The goal of the episode was to explain how irons are designed to help optimize the target golfer using a number of factors including lofts, and why it’s more important to focus on final results rather than stock specs.

“The goal should be for your clubs to go the right distance with the right trajectory… golfers focus too much on loft and not dynamics”

You can listen to the full show below, the above quote starts at 22:42

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Opinion & Analysis

Keep your golf body moving at home

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Over the past few months, I’m willing to bet that a lack of golf, limited access to gyms and spending more time at home in sitting positions will likely be having a negative effect on our posture.

This means certain muscles (pecs, abs, hip flexors) getting tight and short, thereby hunching us over, rounding our shoulders forward and tightening our hips. This combination can wreak havoc on our golf swings, particularly our ability to rotate efficiently.

This simple sequence of exercises, performed daily, will help maintain posture and mobility in the key areas that facilitate rotation in our golf swings. You can find these exercises and much more on the Golf Fit Pro app for iOS.

 

1 – Mid Back Massage – 1 x 90 seconds

Using a foam roller or tightly rolled up towel, aim to apply firm pressure through the mid and upper back whilst gently pushing out the rib cage and arching back. Move up and down the roller or towel to target different areas of your spine.

 

2 – Upper Back Extension – 1 x 30 seconds

Using a bench, box or chair, push the chest down toward the floor whilst keeping your abs / core engaged. You should feel this in your mid and upper back.

 

3 – Straight Arm Chest Stretch – 1 x 30 seconds each side

 

Find a wall, post or doorway, place your hand flat with elbow pointing to the floor and arm straight. Gently turn away from your hand until your feel a stretch in your chest and front of your shoulder.

 

4 – Step Up and Turn – 1 x 5 reps each side 

 

In a push up position, move your foot to the outside of your hand (or as close as possible) then rotate your upper torso with arm straight, aiming to point your hand straight up to the ceiling.

 

5 – Back Swing and Follow Through – 1 x 10 reps

Using a piece of rubber tubing or as pictured, the GravityFit TPro, get into your golf set up position pushing out against the tubing. From there turn into your backswing and then into your follow through. Aim to do the majority of the rotation with your torso, keeping your hands in front of your body.

 

You can check out more of Nick’s articles and services here:

Articles
Golf Fit Pro App
Online Training

 

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