Alliancebernstein L.P. Buys 647 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Alliancebernstein L.P. increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,309 shares of the company’s stock after purchasing an additional 647 shares during the quarter. Alliancebernstein L.P. owned approximately 0.06% of Acushnet worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after purchasing an additional 63,294 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Acushnet during the third quarter valued at about $508,000. Sei Investments Co. raised its stake in Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company’s stock worth $7,260,000 after buying an additional 4,256 shares in the last quarter. Atria Investments Inc lifted its holdings in Acushnet by 35.0% in the fourth quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock worth $2,267,000 after buying an additional 8,268 shares during the period. Finally, Barclays PLC boosted its position in Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock valued at $3,096,000 after acquiring an additional 38,041 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 54.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOLF. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th. Truist Financial dropped their target price on shares of Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a report on Monday. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, KeyCorp dropped their price objective on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One equities research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.00.

Acushnet Trading Down 1.9 %

NYSE GOLF opened at $60.54 on Wednesday. The stock’s fifty day moving average price is $65.23 and its 200-day moving average price is $67.42. 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 stock has a market cap of $3.63 billion, a P/E ratio of 20.59 and a beta of 0.84. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. As a group, equities analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, March 7th. Acushnet’s payout ratio is presently 28.23%.

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.