Balyasny Asset Management L.P. Has $3.76 Million Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Balyasny Asset Management L.P. cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 35.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,893 shares of the company's stock after selling 28,948 shares during the period. Balyasny Asset Management L.P. owned 0.09% of Acushnet worth $3,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GOLF. Blue Trust Inc. lifted its stake in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after buying an additional 176 shares during the period. Berry Wealth Group LP acquired a new stake in shares of Acushnet in the 4th quarter valued at approximately $202,000. Heritage Family Offices LLP bought a new position in Acushnet during the 4th quarter worth approximately $205,000. Leavell Investment Management Inc. acquired a new position in Acushnet during the fourth quarter valued at approximately $210,000. Finally, Corient Private Wealth LLC bought a new stake in Acushnet in the fourth quarter valued at approximately $210,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Truist Financial boosted their target price on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $70.00.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.60% of the stock is owned by company insiders.

Acushnet Stock Up 0.4%

Shares of GOLF traded up $0.30 during mid-day trading on Thursday, hitting $70.50. 309,220 shares of the company's stock were exchanged, compared to its average volume of 375,346. 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 52 week low of $55.31 and a 52 week high of $76.65. The company has a market cap of $4.14 billion, a PE ratio of 23.98 and a beta of 0.90. The company has a 50-day simple moving average of $64.63 and a 200 day simple moving average of $67.70.

Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. During the same quarter in the prior year, the company posted $1.35 earnings per share. The firm's revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, June 6th. Acushnet's payout ratio is 26.11%.

About Acushnet

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.