Acushnet Holdings Corp. (NYSE:GOLF) Position Lowered by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC decreased its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,862 shares of the company’s stock after selling 1,948 shares during the period. Moody Aldrich Partners LLC owned about 0.11% of Acushnet worth $4,681,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after acquiring an additional 176 shares during the last quarter. Brown Lisle Cummings Inc. bought a new position in Acushnet in the third quarter worth about $40,000. Prospera Private Wealth LLC bought a new position in Acushnet in the third quarter worth about $41,000. nVerses Capital LLC bought a new position in Acushnet in the third quarter worth about $57,000. Finally, Quarry LP increased its stake in shares of Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after purchasing an additional 932 shares during the period. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd.

Acushnet Price Performance

NYSE GOLF opened at $67.28 on Wednesday. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a market capitalization of $4.09 billion, a PE ratio of 22.88 and a beta of 0.88. The company’s 50 day simple moving average is $72.18 and its 200 day simple moving average is $68.02.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. As a group, equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.28%. The ex-dividend date was Friday, December 6th. Acushnet’s payout ratio is 29.25%.

Insiders Place Their Bets

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 54.60% of the company’s stock.

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.