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

Balyasny Asset Management L.P. decreased its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 35.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,893 shares of the company's stock after selling 28,948 shares during the period. Balyasny Asset Management L.P. owned approximately 0.09% of Acushnet worth $3,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GOLF. Blue Trust Inc. raised its stake in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after buying an additional 176 shares in the last quarter. Berry Wealth Group LP acquired a new position in shares of Acushnet in the 4th quarter valued at $202,000. Heritage Family Offices LLP acquired a new position in shares of Acushnet in the 4th quarter valued at $205,000. Leavell Investment Management Inc. acquired a new position in shares of Acushnet in the 4th quarter valued at $210,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Acushnet in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Price Performance

NYSE:GOLF traded up $1.66 during mid-day trading on Friday, reaching $72.13. 297,453 shares of the company were exchanged, compared to its average volume of 377,031. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The company has a fifty day moving average of $64.70 and a 200 day moving average of $67.89. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.24 billion, a PE ratio of 24.53 and a beta of 0.90.

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

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Friday, June 6th. Acushnet's dividend payout ratio is currently 26.11%.

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company'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 transaction, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial boosted their target price on shares of 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. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. KeyCorp upped their target price on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $70.00.

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.