Integrated Advisors Network LLC Invests $288,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Integrated Advisors Network LLC acquired a new position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,047 shares of the company's stock, valued at approximately $288,000.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in 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 acquiring an additional 176 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Acushnet in the 4th quarter valued at about $31,000. Lazard Asset Management LLC purchased a new stake in Acushnet during the fourth quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after buying an additional 232 shares in the last quarter. Finally, Berry Wealth Group LP purchased a new stake in Acushnet during the fourth quarter valued at about $202,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Stock Performance

Shares of GOLF traded down $0.15 during mid-day trading on Friday, hitting $68.32. The company's stock had a trading volume of 443,605 shares, compared to its average volume of 381,049. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The firm has a market capitalization of $4.01 billion, a PE ratio of 23.24 and a beta of 0.90. The stock's 50-day moving average is $65.32 and its two-hundred day moving average is $68.07.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.32 by $0.30. The firm had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Acushnet's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.35 earnings per share. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.235 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.38%. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction 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 of the company's stock, valued at approximately $6,802,985.16. This trade represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 54.60% of the stock is owned by company insiders.

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.