London Co. of Virginia Has $32.73 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

London Co. of Virginia lessened its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 460,405 shares of the company’s stock after selling 2,283 shares during the period. London Co. of Virginia’s holdings in Acushnet were worth $32,726,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in Acushnet by 6.8% during the fourth quarter. Janus Henderson Group PLC now owns 46,737 shares of the company’s stock worth $3,322,000 after purchasing an additional 2,990 shares during the period. Hyperion Capital Advisors LP acquired a new stake in Acushnet in the 4th quarter valued at $206,000. Deutsche Bank AG increased its stake in Acushnet by 52.0% during the 4th quarter. Deutsche Bank AG now owns 26,955 shares of the company’s stock valued at $1,916,000 after purchasing an additional 9,224 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Acushnet by 40.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 168,822 shares of the company’s stock worth $12,000,000 after buying an additional 48,553 shares during the last quarter. Finally, Crestline Management LP lifted its stake in shares of Acushnet by 288.0% in the fourth quarter. Crestline Management LP now owns 28,052 shares of the company’s stock valued at $1,994,000 after buying an additional 20,822 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

GOLF opened at $67.78 on Monday. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The firm has a 50-day moving average of $64.46 and a 200 day moving average of $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. The firm has a market cap of $4.07 billion, a P/E ratio of 23.05 and a beta of 0.90.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.30. The firm had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 EPS. On average, research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOLF shares. JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. Truist Financial raised 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. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, KeyCorp lifted their target price on shares of Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.00.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 54.60% of the company’s stock.

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.