04:01 PM EDT, 08/09/2024 (MT Newswires) -- Acushnet Holdings ( GOLF ) shareholder Fila Holdings' unit Magnus Holdings sold 1.1 million of Acushnet common shares worth $75.8 million for "liquidity purposes," according to a regulatory filing Friday.

Magnus still holds 50.7% common shares following the sale, Acushnet said in a separate filing.

Magnus has agreed to a 30-day lock-up period with Acushnet, during which it will be restricted from selling or transferring Acushnet shares, with some exceptions, the company said.

The stock sale comes after Acushnet reported Q2 financial results earlier in the week. Its net sales for the quarter ended June 30 were $683.9 million, compared with $689.4 million a year earlier. Analysts polled by Capital IQ expected $709.8 million.

Acushnet shares were down more than 1% in recent trading.

Price: 67.26, Change: -1.03, Percent Change: -1.51