Thornburg Investment Management Inc. Increases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Thornburg Investment Management Inc. raised its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,436 shares of the company's stock after buying an additional 25,920 shares during the period. Thornburg Investment Management Inc. owned about 0.25% of Acushnet worth $10,906,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in shares of Acushnet by 4.3% during the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock valued at $7,260,000 after acquiring an additional 4,256 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Acushnet by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock valued at $72,783,000 after purchasing an additional 10,166 shares during the period. Renaissance Technologies LLC raised its position in Acushnet by 93.1% during the 4th quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock valued at $1,400,000 after purchasing an additional 9,493 shares during the last quarter. Atria Investments Inc lifted its holdings in Acushnet by 35.0% in the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company's stock worth $2,267,000 after buying an additional 8,268 shares during the period. Finally, Barclays PLC grew its position in shares of Acushnet by 361.5% in the 3rd quarter. Barclays PLC now owns 48,563 shares of the company's stock worth $3,096,000 after buying an additional 38,041 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOLF. 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 report on Monday, May 5th. KeyCorp upped their price objective on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Truist Financial boosted their price target on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Acushnet presently has a consensus rating of "Hold" and an average target price of $70.00.

Acushnet Stock Down 3.6%

Acushnet stock traded down $2.61 on Wednesday, hitting $69.17. 332,455 shares of the stock traded hands, compared to its average volume of 377,217. The business's fifty day simple moving average is $65.02 and its 200 day simple moving average is $68.04. The firm has a market cap of $4.06 billion, a P/E ratio of 23.53 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 Holdings Corp. has a 1 year low of $55.31 and a 1 year high of $76.65.

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

Acushnet Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.36%. Acushnet's dividend payout ratio is currently 26.11%.

Insider Buying and Selling

In other news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, 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 position. The transaction 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 company insiders.

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.