Acushnet Holdings Corp. (NYSE:GOLF) Stock Position Decreased by Brinker Capital Investments LLC – ETF Daily News
Brinker Capital Investments LLC cut its position in shares of Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) by 4.7% in the fourth quarter, Holdings Channel reports. The firm owned 12,458 shares of the company’s stock after selling 613 shares during the period. Brinker Capital Investments LLC’s holdings in Acushnet were worth $529,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates raised its stake in shares of Acushnet by 146.4% during the 3rd quarter. Raymond James & Associates now owns 546,263 shares of the company’s stock worth $23,757,000 after purchasing an additional 324,564 shares in the last quarter. Quadrature Capital Ltd bought a new position in Acushnet during the third quarter valued at about $665,000. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Acushnet by 18.6% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 238,523 shares of the company’s stock worth $10,373,000 after buying an additional 37,350 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Acushnet by 593.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 64,789 shares of the company’s stock worth $2,818,000 after acquiring an additional 55,445 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Acushnet by 11.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 16,400 shares of the company’s stock valued at $713,000 after acquiring an additional 1,700 shares during the last quarter. 49.39% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Acushnet
In other Acushnet news, insider Christopher Aaron Lindner sold 15,000 shares of Acushnet stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $52.15, for a total transaction of $782,250.00. Following the sale, the insider now directly owns 92,255 shares of the company’s stock, valued at $4,811,098.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Acushnet news, insider Christopher Aaron Lindner sold 15,000 shares of Acushnet stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $52.15, for a total transaction of $782,250.00. Following the completion of the transaction, the insider now directly owns 92,255 shares of the company’s stock, valued at $4,811,098.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Pacheco sold 20,000 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $51.92, for a total transaction of $1,038,400.00. Following the completion of the sale, the insider now directly owns 60,368 shares in the company, valued at approximately $3,134,306.56. The disclosure for this sale can be found here. 53.00% of the stock is currently owned by insiders.
Acushnet Trading Up 0.2 %
Acushnet (NYSE:GOLF – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.27. Acushnet had a return on equity of 19.00% and a net margin of 8.87%. The business had revenue of $686.30 million during the quarter, compared to analyst estimates of $631.12 million. During the same period in the prior year, the company posted $1.10 earnings per share. Acushnet’s revenue was up 13.2% on a year-over-year basis. As a group, research analysts predict that Acushnet Holdings Corp. will post 2.85 earnings per share for the current year.
Acushnet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $0.78 annualized dividend and a dividend yield of 1.46%. Acushnet’s dividend payout ratio (DPR) is currently 28.57%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. KeyCorp started coverage on Acushnet in a research report on Wednesday, April 19th. They set an “overweight” rating and a $57.00 target price for the company. Morgan Stanley upped their price objective on shares of Acushnet from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, March 3rd. StockNews.com assumed coverage on shares of Acushnet in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and decreased their price target for the company from $65.00 to $55.00 in a report on Tuesday, March 14th. Finally, Tigress Financial upgraded Acushnet from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $62.00 in a research note on Tuesday, March 14th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.63.
Acushnet Profile
Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.
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