Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. reduced its position in Acushnet Holdings Corp. (NYSE:GOLF) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,955 shares of the company’s stock after selling 3,689 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Acushnet were worth $3,724,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its position in Acushnet by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 9,590 shares of the company’s stock valued at $509,000 after acquiring an additional 188 shares in the last quarter. First Horizon Advisors Inc. grew its position in Acushnet by 43.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after acquiring an additional 215 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Acushnet by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 17,769 shares of the company’s stock valued at $942,000 after buying an additional 399 shares during the period. SkyView Investment Advisors LLC boosted its stake in shares of Acushnet by 2.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 18,476 shares of the company’s stock valued at $980,000 after buying an additional 449 shares during the period. Finally, Federated Hermes Inc. purchased a new position in shares of Acushnet in the 4th quarter valued at about $32,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOLF shares. KeyCorp lifted their price objective on Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Truist Financial lifted their price objective on Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.71.

Acushnet Stock Up 0.5 %

GOLF stock traded up $0.32 during trading on Friday, hitting $62.18. 367,114 shares of the company’s stock were exchanged, compared to its average volume of 379,272. The business has a 50-day moving average price of $63.69 and a two-hundred day moving average price of $61.52. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 21.52 and a beta of 0.88. Acushnet Holdings Corp. has a 52-week low of $43.62 and a 52-week high of $70.10. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The business had revenue of $413.00 million for the quarter, compared to analysts’ expectations of $429.16 million. Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts expect that Acushnet Holdings Corp. will post 3.17 EPS for the current year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.215 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.86 annualized dividend and a yield of 1.38%. Acushnet’s payout ratio is 29.76%.

Insiders Place Their Bets

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Brendan J. Reidy sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the transaction, the insider now owns 58,588 shares of the company’s stock, valued at $3,778,340.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the completion of the transaction, the insider now directly owns 130,472 shares in the company, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. 54.60% of the stock is currently owned by corporate insiders.

Acushnet Company 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.