Quantbot Technologies LP Sells 26,724 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Quantbot Technologies LP cut its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 72.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,957 shares of the company’s stock after selling 26,724 shares during the period. Quantbot Technologies LP’s holdings in Acushnet were worth $708,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares in the last quarter. Quarry LP boosted its position in shares of Acushnet by 745.6% during the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after acquiring an additional 932 shares in the last quarter. Berry Wealth Group LP bought a new stake in Acushnet in the fourth quarter valued at about $202,000. Heritage Family Offices LLP acquired a new position in Acushnet in the fourth quarter worth about $205,000. Finally, Leavell Investment Management Inc. bought a new position in Acushnet during the fourth quarter worth about $210,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

Acushnet stock opened at $67.35 on Thursday. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.65. The firm has a market cap of $4.04 billion, a P/E ratio of 22.91 and a beta of 0.79. 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 business’s fifty day moving average is $67.22 and its two-hundred day moving average is $67.61.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s payout ratio is 28.23%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.