Acushnet Holdings Corp. (NYSE:GOLF) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 93.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,693 shares of the company's stock after purchasing an additional 9,493 shares during the period. Renaissance Technologies LLC's holdings in Acushnet were worth $1,400,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its holdings in shares of Acushnet by 5.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after buying an additional 54,314 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Acushnet by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock valued at $72,783,000 after purchasing an additional 10,166 shares during the period. Raymond James Financial Inc. acquired a new stake in Acushnet during the 4th quarter valued at $62,713,000. Charles Schwab Investment Management Inc. increased its stake in Acushnet by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company's stock worth $25,713,000 after buying an additional 2,793 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Acushnet by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 271,995 shares of the company's stock worth $19,333,000 after buying an additional 18,036 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Acushnet Stock Performance

NYSE:GOLF traded up $0.98 during midday trading on Wednesday, reaching $66.30. 575,875 shares of the company traded hands, compared to its average volume of 369,291. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 22.55 and a beta of 0.84. The company has a fifty day moving average price of $64.25 and a 200 day moving average price of $67.32. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. On average, analysts expect 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. Stockholders of record on Friday, March 7th were given a dividend of $0.235 per share. The ex-dividend date was Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.42%. Acushnet's payout ratio is currently 28.23%.

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.