Kayne Anderson Rudnick Investment Management LLC Sells 160,947 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,960,022 shares of the company's stock after selling 160,947 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 11.45% of Acushnet worth $494,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Acushnet by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after buying an additional 5,661 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after acquiring an additional 54,314 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Acushnet by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after purchasing an additional 10,166 shares during the period. Raymond James Financial Inc. acquired a new position in Acushnet in the 4th quarter worth approximately $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new position in Acushnet during the 4th quarter worth approximately $28,641,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. The trade was a 17.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 54.60% of the stock is owned by insiders.

Acushnet Trading Up 0.2%

Shares of GOLF traded up $0.13 on Thursday, reaching $68.45. 284,384 shares of the company's stock were exchanged, compared to its average volume of 379,699. The business has a 50 day moving average price of $65.29 and a two-hundred day moving average price of $68.11. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The stock has a market capitalization of $4.02 billion, a P/E ratio of 23.28 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $697.82 million. During the same quarter in the previous year, the company earned $1.35 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. Research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.235 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.37%. Acushnet's dividend payout ratio (DPR) is 26.11%.

Analysts Set New Price Targets

Several brokerages have weighed in on GOLF. Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Wall Street Zen lowered Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Truist Financial increased 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. Finally, KeyCorp lifted their price target on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. One 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. According to data from MarketBeat, Acushnet has a consensus rating of "Hold" and a consensus target price of $70.00.

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.