Schonfeld Strategic Advisors LLC Makes New Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Schonfeld Strategic Advisors LLC bought a new position in Acushnet Holdings Corp. (NYSE:GOLF) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,420 shares of the company’s stock, valued at approximately $385,000.

A number of other institutional investors also recently modified their holdings of GOLF. Raymond James Financial Inc. bought a new position in shares of Acushnet in the fourth quarter worth about $62,713,000. Lord Abbett & CO. LLC bought a new position in shares of Acushnet in the fourth quarter worth about $28,641,000. Norges Bank bought a new position in shares of Acushnet in the fourth quarter worth about $14,825,000. 12th Street Asset Management Company LLC raised its stake in shares of Acushnet by 170.1% in the fourth quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company’s stock worth $8,592,000 after acquiring an additional 76,126 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after acquiring an additional 63,294 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOLF shares. Truist Financial boosted their price target on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday. Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. KeyCorp boosted their price target on shares of Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.00.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 54.60% of the company’s stock.

Acushnet Stock Down 0.5%

Shares of NYSE:GOLF opened at $67.78 on Monday. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.65. 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 company has a market capitalization of $4.07 billion, a PE ratio of 23.05 and a beta of 0.90. The company has a 50 day moving average price of $64.46 and a two-hundred day moving average price of $67.59.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same quarter in the prior year, the firm earned $1.35 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. Analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, June 6th. Acushnet’s payout ratio is presently 26.11%.

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.