5,420 Shares in Acushnet Holdings Corp. (NYSE:GOLF) Bought by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC bought a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,420 shares of the company’s stock, valued at approximately $385,000.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in 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 during the last quarter. Berry Wealth Group LP bought a new stake in Acushnet during the fourth quarter worth $202,000. Heritage Family Offices LLP bought a new stake in Acushnet during the fourth quarter worth $205,000. Leavell Investment Management Inc. bought a new stake in Acushnet during the fourth quarter worth $210,000. Finally, Corient Private Wealth LLC bought a new stake in Acushnet during the fourth quarter worth $210,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Acushnet Price Performance

NYSE:GOLF opened at $67.78 on Monday. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.65. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 23.05 and a beta of 0.90. The firm’s 50-day simple moving average is $64.46 and its 200 day simple moving average is $67.59. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

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

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.39%. Acushnet’s payout ratio is 26.11%.

Analyst Upgrades and Downgrades

GOLF has been the topic of several analyst reports. Truist Financial upped their price target on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $71.00 in a research report on Monday, May 5th. KeyCorp increased their price objective on shares of Acushnet from $70.00 to $75.00 and gave the company an “overweight” rating in a research report 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 equities research 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. According to MarketBeat.com, Acushnet presently has an average rating of “Hold” and an average price target of $70.00.

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.