Point72 Asset Management L.P. Cuts Position in Acushnet Holdings Corp. (NYSE:GOLF)

Point72 Asset Management L.P. decreased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,844 shares of the company's stock after selling 30,356 shares during the quarter. Point72 Asset Management L.P. owned 0.39% of Acushnet worth $16,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOLF. Blue Trust Inc. increased its stake in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after purchasing an additional 176 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Acushnet in the fourth quarter valued at approximately $51,000. Berry Wealth Group LP acquired a new stake in Acushnet in the fourth quarter valued at approximately $202,000. Hyperion Capital Advisors LP purchased a new stake in shares of Acushnet in the fourth quarter valued at approximately $206,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Acushnet during the 4th quarter worth approximately $210,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 54.60% of the company's stock.

Wall Street Analyst Weigh In

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

Acushnet Price Performance

NYSE GOLF traded down $0.51 during trading hours on Friday, hitting $68.48. 74,839 shares of the company's stock traded hands, compared to its average volume of 376,846. The company has a market capitalization of $4.02 billion, a PE ratio of 23.24 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a 52-week low of $55.31 and a 52-week high of $76.65. The firm's 50-day moving average is $65.08 and its 200-day moving average is $68.08.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results 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 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 business earned $1.35 earnings per share. The business's revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

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

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.