Kayne Anderson Rudnick Investment Management LLC Decreases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,960,022 shares of the company's stock after selling 160,947 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 11.45% of Acushnet worth $494,718,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GOLF. MetLife Investment Management LLC grew its position in Acushnet by 4.0% during the fourth quarter. MetLife Investment Management LLC now owns 17,309 shares of the company's stock worth $1,230,000 after buying an additional 672 shares during the period. Dimensional Fund Advisors LP increased its stake in Acushnet by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock valued at $107,097,000 after purchasing an additional 5,661 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Acushnet by 1.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after purchasing an additional 217 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Acushnet in the fourth quarter valued at $419,000. Finally, Mariner LLC raised its stake in shares of Acushnet by 40.7% during the 4th quarter. Mariner LLC now owns 13,726 shares of the company's stock worth $975,000 after buying an additional 3,972 shares during the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOLF has been the subject of a number of research reports. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered Acushnet from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Truist Financial decreased their price objective on Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Finally, KeyCorp reduced their target price on Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Acushnet has an average rating of "Hold" and a consensus target price of $70.60.

Acushnet Trading Down 0.9 %

Shares of GOLF traded down $0.56 during trading hours on Friday, hitting $62.44. The stock had a trading volume of 175,171 shares, compared to its average volume of 369,121. Acushnet Holdings Corp. has a 12-month low of $55.31 and a 12-month high of $76.65. The firm has a market cap of $3.75 billion, a P/E ratio of 21.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The company's fifty day simple moving average is $64.40 and its 200 day simple moving average is $67.28.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.235 per share. This is an increase from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.51%. The ex-dividend date was Friday, March 7th. Acushnet's payout ratio is currently 28.23%.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 54.60% of the company's stock.

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.