LPL Financial LLC Grows Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

LPL Financial LLC lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,411 shares of the company's stock after acquiring an additional 4,810 shares during the quarter. LPL Financial LLC's holdings in Acushnet were worth $1,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Portfolio Solutions LLC increased its holdings in Acushnet by 3.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company's stock worth $678,000 after purchasing an additional 330 shares during the period. Barclays PLC lifted its stake in Acushnet by 361.5% in the third quarter. Barclays PLC now owns 48,563 shares of the company's stock worth $3,096,000 after acquiring an additional 38,041 shares during the period. Virtu Financial LLC grew its holdings in Acushnet by 152.6% during the 3rd quarter. Virtu Financial LLC now owns 8,163 shares of the company's stock worth $520,000 after acquiring an additional 4,931 shares in the last quarter. SkyView Investment Advisors LLC increased its position in Acushnet by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company's stock valued at $1,324,000 after purchasing an additional 376 shares during the period. Finally, Tidal Investments LLC bought a new stake in shares of Acushnet in the 3rd quarter valued at about $508,000. Institutional investors own 53.12% of the company's stock.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the 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 in the company, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 54.60% of the company's stock.

Acushnet Stock Up 0.6 %

NYSE:GOLF traded up $0.34 during mid-day trading on Friday, hitting $59.63. 388,479 shares of the company's stock traded hands, compared to its average volume of 369,839. 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 company has a market capitalization of $3.57 billion, a P/E ratio of 20.28 and a beta of 0.84. The company has a fifty day moving average of $64.86 and a 200 day moving average of $67.38. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. On average, analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.235 dividend. This is a positive change from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.58%. Acushnet's dividend payout ratio (DPR) is 28.23%.

Wall Street Analyst Weigh In

GOLF has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and lifted their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. Truist Financial decreased their price objective on Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a research note on Monday, April 14th. KeyCorp cut their target price on Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $70.60.

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.