Aquatic Capital Management LLC Acquires 7,202 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Aquatic Capital Management LLC increased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 77.4% during the 4th quarter, HoldingsChannel reports. The firm owned 16,502 shares of the company’s stock after purchasing an additional 7,202 shares during the period. Aquatic Capital Management LLC’s holdings in Acushnet were worth $1,173,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after buying an additional 176 shares during the last quarter. Berry Wealth Group LP acquired a new stake in Acushnet in the 4th quarter valued at approximately $202,000. Heritage Family Offices LLP acquired a new stake in Acushnet in the 4th quarter valued at approximately $205,000. Corient Private Wealth LLC acquired a new stake in Acushnet in the 4th quarter valued at approximately $210,000. Finally, Leavell Investment Management Inc. acquired a new stake in Acushnet in the 4th quarter valued at approximately $210,000. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. KeyCorp dropped their target price on Acushnet from $77.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Truist Financial lowered their price target on Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.60.

Acushnet Stock Up 2.9 %

GOLF stock opened at $65.38 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.92 billion, a PE ratio of 22.24 and a beta of 0.84. Acushnet Holdings Corp. has a 1-year low of $55.31 and a 1-year high of $76.65. The business’s 50 day simple moving average is $64.25 and its 200 day simple moving average is $67.32.

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

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.235 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.44%. Acushnet’s payout ratio is 28.23%.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. 54.60% of the stock is currently owned by corporate insiders.

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.