Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 82.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,087 shares of the company’s stock after selling 9,738 shares during the period. AlphaQuest LLC’s holdings in Acushnet were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after acquiring an additional 63,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Acushnet in the 3rd quarter valued at $1,443,000. FMR LLC increased its stake in Acushnet by 2.5% in the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after buying an additional 10,762 shares during the period. Tidal Investments LLC acquired a new position in Acushnet in the 3rd quarter valued at $508,000. Finally, GSA Capital Partners LLP acquired a new position in Acushnet in the 3rd quarter valued at $654,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated 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 $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 54.60% of the company’s stock.

Acushnet Price Performance

Shares of NYSE GOLF opened at $65.95 on Tuesday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 22.43 and a beta of 0.79. Acushnet Holdings Corp. has a one year low of $58.54 and a one year high of $76.65. The company’s fifty day moving average is $67.98 and its two-hundred day moving average is $67.61. 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 issued its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.235 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.43%. Acushnet’s payout ratio is currently 28.23%.

Analysts Set New Price Targets

Several brokerages have issued reports on GOLF. KeyCorp dropped their price objective on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $72.80.

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.