Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Man Group plc

Man Group plc cut its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 30.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,572 shares of the company's stock after selling 29,895 shares during the quarter. Man Group plc owned about 0.11% of Acushnet worth $4,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after acquiring an additional 176 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Acushnet during the fourth quarter worth about $51,000. Berry Wealth Group LP acquired a new stake in Acushnet during the fourth quarter worth about $202,000. Hyperion Capital Advisors LP acquired a new stake in shares of Acushnet in the fourth quarter valued at about $206,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at about $210,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Down 1.1%

GOLF traded down $0.75 on Friday, reaching $68.24. The company's stock had a trading volume of 375,843 shares, compared to its average volume of 378,695. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 23.21 and a beta of 0.90. Acushnet Holdings Corp. has a 1 year low of $55.31 and a 1 year high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The business's 50 day moving average is $65.13 and its 200 day moving average is $68.11.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly 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. The firm had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Acushnet's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 earnings per share. As a group, research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

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

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 54.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. 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 research note on Monday, May 5th. KeyCorp increased their target price on Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Truist Financial increased 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Acushnet currently has a consensus rating of "Hold" and a consensus price target 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.