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

Voloridge Investment Management LLC reduced its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 4.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 236,115 shares of the company’s stock after selling 10,763 shares during the period. Voloridge Investment Management LLC owned approximately 0.39% of Acushnet worth $16,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in shares of Acushnet by 4.3% during the 4th quarter. Sei Investments Co. now owns 102,137 shares of the company’s stock valued at $7,260,000 after acquiring an additional 4,256 shares during the period. Principal Financial Group Inc. grew its position in shares of Acushnet by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock valued at $72,783,000 after acquiring an additional 10,166 shares during the period. Renaissance Technologies LLC grew its position in shares of Acushnet by 93.1% during the 4th quarter. Renaissance Technologies LLC now owns 19,693 shares of the company’s stock valued at $1,400,000 after acquiring an additional 9,493 shares during the period. Atria Investments Inc grew its position in shares of Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock valued at $2,267,000 after acquiring an additional 8,268 shares during the period. Finally, Barclays PLC grew its position in shares of Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock valued at $3,096,000 after acquiring an additional 38,041 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOLF. Truist Financial raised their target price on Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. KeyCorp raised their target price on Acushnet from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen cut Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.00.

Acushnet Trading Down 0.4%

GOLF stock opened at $68.95 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 12-month low of $55.31 and a 12-month high of $76.65. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 23.45 and a beta of 0.90. The business’s 50-day moving average is $65.08 and its 200 day moving average is $68.08.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share 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 company posted $1.35 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm 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. This represents a $0.94 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, June 6th. Acushnet’s dividend payout ratio (DPR) is 26.11%.

Insiders Place Their Bets

In other Acushnet 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 transaction, the insider now directly owns 96,006 shares of the company’s stock, valued at $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 available through this hyperlink. Corporate 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.