Quantbot Technologies LP Sells 26,724 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Quantbot Technologies LP cut its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 72.9% in the fourth quarter, Holdings Channel reports. The firm owned 9,957 shares of the company’s stock after selling 26,724 shares during the quarter. Quantbot Technologies LP’s holdings in Acushnet were worth $708,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOLF. Semanteon Capital Management LP raised its holdings in Acushnet by 3.0% in the fourth quarter. Semanteon Capital Management LP now owns 9,659 shares of the company’s stock worth $687,000 after purchasing an additional 281 shares during the period. Intech Investment Management LLC increased its position in shares of Acushnet by 37.1% in the 4th quarter. Intech Investment Management LLC now owns 11,154 shares of the company’s stock valued at $793,000 after buying an additional 3,020 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Acushnet during the 4th quarter worth $210,000. 12th Street Asset Management Company LLC lifted its holdings in Acushnet by 170.1% during 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 in the last quarter. Finally, Impact Capital Partners LLC acquired a new position in Acushnet in the fourth quarter valued at about $798,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated 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 approximately $6,802,985.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 54.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. 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 report on Friday, February 28th. Finally, Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and upped their target price for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. One equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $72.80.

Acushnet Price Performance

NYSE GOLF opened at $67.35 on Thursday. The firm’s 50 day moving average is $67.22 and its 200-day moving average is $67.61. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $4.04 billion, a PE ratio of 22.91 and a beta of 0.79. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.65.

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

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio is currently 28.23%.

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.