Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,365 shares of the company's stock after selling 41,097 shares during the period. Voya Investment Management LLC owned 0.49% of Acushnet worth $21,137,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after purchasing an additional 176 shares in the last quarter. Berry Wealth Group LP bought a new stake in shares of Acushnet in the fourth quarter worth about $202,000. Heritage Family Offices LLP acquired a new stake in Acushnet during the 4th quarter worth approximately $205,000. Corient Private Wealth LLC acquired a new position in Acushnet in the 4th quarter worth $210,000. Finally, Leavell Investment Management Inc. bought a new position in shares of Acushnet during the fourth quarter worth about $210,000. Institutional investors own 53.12% of the company's stock.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm's 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 transaction, the insider now owns 96,006 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 54.60% of the company's stock.

Acushnet Stock Performance

Shares of GOLF stock traded up $0.19 during trading on Friday, hitting $66.00. The company's stock had a trading volume of 166,376 shares, compared to its average volume of 369,563. 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 company has a market cap of $3.96 billion, a PE ratio of 22.45 and a beta of 0.84. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.65. The business has a fifty day moving average of $64.26 and a 200-day moving average of $67.33.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. As a group, research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. Acushnet's payout ratio is currently 28.23%.

Analyst Upgrades and Downgrades

GOLF has been the topic of several recent analyst reports. Truist Financial lowered their price target on Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. downgraded Acushnet from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and raised their target price for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, KeyCorp lowered their price objective on Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.