Jane Street Group LLC Has $909,000 Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Jane Street Group LLC decreased its position in Acushnet Holdings Corp. (NYSE:GOLF) by 97.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,786 shares of the company’s stock after selling 495,919 shares during the period. Jane Street Group LLC’s holdings in Acushnet were worth $909,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOLF. Blue Trust Inc. increased its holdings in shares of Acushnet by 100.6% during the 4th 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. Berry Wealth Group LP acquired a new stake in shares of Acushnet during the 4th quarter worth $202,000. Leavell Investment Management Inc. acquired a new stake in shares of Acushnet during the 4th quarter worth $210,000. Corient Private Wealth LLC acquired a new stake in Acushnet in the fourth quarter valued at about $210,000. Finally, Wedbush Securities Inc. acquired a new stake in Acushnet in the fourth quarter valued at about $221,000. 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 the company’s stock in a transaction dated 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 transaction, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 54.60% of the stock is currently owned by corporate insiders.

Acushnet Stock Performance

Shares of Acushnet stock opened at $68.24 on Friday. The business’s fifty day simple moving average is $65.13 and its 200 day simple moving average is $68.11. The firm has a market capitalization of $4.01 billion, a P/E ratio of 23.21 and a beta of 0.90. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Acushnet’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. As a group, analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS 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. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.38%. Acushnet’s payout ratio is presently 26.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOLF shares. Wall Street Zen downgraded Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. KeyCorp lifted their target price on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Truist Financial raised their price objective on Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. Finally, Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $80.00 to $71.00 in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.00.

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.