Man Group plc Sells 29,895 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Man Group plc lowered its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 30.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,572 shares of the company's stock after selling 29,895 shares during the period. Man Group plc owned approximately 0.11% of Acushnet worth $4,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Acushnet by 1.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock worth $1,144,000 after buying an additional 213 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Acushnet by 1.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after buying an additional 217 shares during the last quarter. Semanteon Capital Management LP lifted its stake in shares of Acushnet by 3.0% in the fourth quarter. Semanteon Capital Management LP now owns 9,659 shares of the company's stock worth $687,000 after buying an additional 281 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its holdings in shares of Acushnet by 8.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company's stock valued at $298,000 after buying an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Wall Street Analyst Weigh In

GOLF has been the subject of a number of recent analyst reports. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp boosted their price target on Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Truist Financial upped their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Acushnet currently has an average rating of "Hold" and a consensus target price of $70.00.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business'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 transaction of $1,417,200.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 54.60% of the company's stock.

Acushnet Stock Performance

GOLF traded down $0.75 during mid-day trading on Monday, reaching $68.24. 375,843 shares of the company traded hands, compared to its average volume of 379,338. The company's fifty day moving average price is $65.13 and its 200-day moving average price is $68.13. The stock has a market capitalization of $4.01 billion, a P/E ratio of 23.21 and a beta of 0.90. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. 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 quarterly earnings data 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 return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. Acushnet's revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.235 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.38%. Acushnet's payout ratio is presently 26.11%.

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.