Jump Financial LLC decreased its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,300 shares of the company's stock after selling 4,400 shares during the period. Jump Financial LLC's holdings in Acushnet were worth $1,798,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. XTX Topco Ltd bought a new position in shares of Acushnet in the 4th quarter worth about $419,000. Mariner LLC increased its stake in shares of Acushnet by 40.7% in the fourth quarter. Mariner LLC now owns 13,726 shares of the company's stock worth $975,000 after acquiring an additional 3,972 shares during the last quarter. Barclays PLC increased its position in Acushnet by 34.4% during the fourth quarter. Barclays PLC now owns 65,252 shares of the company's stock worth $4,638,000 after buying an additional 16,689 shares during the last quarter. Petros Family Wealth LLC acquired a new position in shares of Acushnet in the fourth quarter valued at $290,000. Finally, Argent Trust Co acquired a new position in shares of Acushnet in the fourth quarter valued at $246,000. Institutional investors and hedge funds own 53.12% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. 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 note on Monday, April 14th. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. KeyCorp cut their price objective on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One 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.com, the company has an average rating of "Hold" and an average price target of $70.60.
Check Out Our Latest Stock Report on GOLF
Acushnet Stock Performance
Shares of Acushnet stock traded up $0.65 during trading on Thursday, reaching $62.59. The company's stock had a trading volume of 72,177 shares, compared to its average volume of 369,304. The firm has a market cap of $3.76 billion, a PE ratio of 21.29 and a beta of 0.84. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The company has a 50-day moving average price of $64.47 and a two-hundred day moving average price of $67.29. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.
Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. On average, analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.
Acushnet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.235 dividend. This is a boost from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 annualized dividend and a yield of 1.50%. Acushnet's dividend payout ratio (DPR) is currently 28.23%.
Insider Transactions at Acushnet
In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 54.60% of the stock is owned by insiders.
About Acushnet
(
Free Report)
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.
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