Crestline Management LP Purchases 20,822 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Crestline Management LP grew its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 288.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,052 shares of the company's stock after buying an additional 20,822 shares during the quarter. Crestline Management LP's holdings in Acushnet were worth $1,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in GOLF. Raymond James Financial Inc. acquired a new stake in shares of Acushnet in the fourth quarter worth about $62,713,000. Lord Abbett & CO. LLC acquired a new stake in Acushnet in the 4th quarter worth approximately $28,641,000. Norges Bank bought a new stake in Acushnet during the fourth quarter worth approximately $14,825,000. 12th Street Asset Management Company LLC grew its holdings in Acushnet by 170.1% during the fourth quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company's stock valued at $8,592,000 after purchasing an additional 76,126 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after purchasing an additional 63,294 shares during the period. Institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

GOLF traded down $0.37 on Friday, hitting $67.78. 538,909 shares of the stock traded hands, compared to its average volume of 373,034. The business has a fifty day moving average price of $64.46 and a two-hundred day moving average price of $67.54. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.07 billion, a PE ratio of 23.05 and a beta of 0.90. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.65.

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

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.235 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.39%. Acushnet's payout ratio is currently 26.11%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction that occurred on 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 sale, 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 link. Company insiders own 54.60% of the company's stock.

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.