Vestmark Advisory Solutions Inc. Decreases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Vestmark Advisory Solutions Inc. lowered its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,955 shares of the company’s stock after selling 3,689 shares during the quarter. Vestmark Advisory Solutions Inc. owned about 0.09% of Acushnet worth $3,724,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Tributary Capital Management LLC raised its position in shares of Acushnet by 6.7% during the 4th quarter. Tributary Capital Management LLC now owns 265,334 shares of the company’s stock valued at $16,761,000 after buying an additional 16,610 shares in the last quarter. Strs Ohio purchased a new stake in shares of Acushnet during the 4th quarter valued at about $890,000. International Assets Investment Management LLC purchased a new stake in shares of Acushnet during the 4th quarter valued at about $9,318,000. Invesco Ltd. raised its position in shares of Acushnet by 1.6% during the 3rd quarter. Invesco Ltd. now owns 545,158 shares of the company’s stock valued at $28,915,000 after buying an additional 8,687 shares in the last quarter. Finally, Graham Capital Management L.P. raised its position in shares of Acushnet by 91.5% during the 3rd quarter. Graham Capital Management L.P. now owns 43,121 shares of the company’s stock valued at $2,287,000 after buying an additional 20,609 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insiders Place Their Bets

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

Acushnet Trading Up 0.5 %

GOLF stock traded up $0.32 during mid-day trading on Friday, reaching $62.18. The company had a trading volume of 367,114 shares, compared to its average volume of 379,272. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 0.84. The company has a market capitalization of $3.94 billion, a PE ratio of 21.52 and a beta of 0.88. The firm has a 50 day moving average of $63.69 and a 200 day moving average of $61.52. Acushnet Holdings Corp. has a 12 month low of $43.62 and a 12 month high of $70.10.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $413.00 million during the quarter, compared to the consensus estimate of $429.16 million. Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. On average, equities analysts predict that Acushnet Holdings Corp. will post 3.17 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.215 dividend. This is an increase from Acushnet’s previous quarterly dividend of $0.20. This represents a $0.86 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 7th. Acushnet’s dividend payout ratio is currently 29.76%.

Analysts Set New Price Targets

GOLF has been the topic of several analyst reports. Truist Financial upped their price target on shares of Acushnet from $55.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, January 9th. KeyCorp upped their price target on shares of Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.71.

About Acushnet

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.