BNP Paribas Financial Markets Sells 11,368 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

BNP Paribas Financial Markets trimmed its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 61.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,068 shares of the company's stock after selling 11,368 shares during the period. BNP Paribas Financial Markets' holdings in Acushnet were worth $502,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings 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 buying an additional 176 shares during the last quarter. Berry Wealth Group LP acquired a new stake in shares of Acushnet in the 4th quarter valued at approximately $202,000. Leavell Investment Management Inc. acquired a new stake in shares of Acushnet in the 4th quarter valued at approximately $210,000. Corient Private Wealth LLC bought a new position in Acushnet during the 4th quarter worth approximately $210,000. Finally, Wedbush Securities Inc. acquired a new position in Acushnet during the fourth quarter valued at approximately $221,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Stock Up 3.2%

Shares of GOLF stock traded up $2.19 on Tuesday, hitting $70.54. 488,761 shares of the stock were exchanged, compared to its average volume of 379,776. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.15 billion, a P/E ratio of 23.99 and a beta of 0.90. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The business has a 50-day moving average of $65.15 and a 200 day moving average of $68.10.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share 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 firm had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same period last year, the company earned $1.35 earnings per share. The business's revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, June 6th. Acushnet's payout ratio is 26.11%.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction dated 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 in the company, valued at $6,802,985.16. The trade was a 17.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 54.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

About Acushnet

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.