Dark Forest Capital Management LP Trims Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Dark Forest Capital Management LP cut its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 89.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,798 shares of the company's stock after selling 32,946 shares during the quarter. Dark Forest Capital Management LP's holdings in Acushnet were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Stifel Financial Corp increased its position in shares of Acushnet by 0.6% during the fourth quarter. Stifel Financial Corp now owns 130,810 shares of the company's stock worth $9,298,000 after acquiring an additional 731 shares during the period. MetLife Investment Management LLC increased its position in shares of Acushnet by 4.0% during the fourth quarter. MetLife Investment Management LLC now owns 17,309 shares of the company's stock worth $1,230,000 after acquiring an additional 672 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after acquiring an additional 5,661 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Acushnet by 1.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after acquiring an additional 217 shares during the period. Finally, XTX Topco Ltd purchased a new position in Acushnet during the fourth quarter valued at approximately $419,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Price Performance

Shares of GOLF opened at $63.77 on Tuesday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 21.69 and a beta of 0.84. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65. 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 company has a 50 day moving average of $64.27 and a two-hundred day moving average of $67.33.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS 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 business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. As a group, analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.235 per share. 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 1.47%. The ex-dividend date of this dividend was Friday, March 7th. Acushnet's payout ratio is presently 28.23%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm'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 completion of the transaction, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOLF shares. 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 report on Thursday, April 17th. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. Truist Financial cut their price objective on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lowered shares of 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. Finally, StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $70.60.

Acushnet 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.

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