Jump Financial LLC Lowers Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Jump Financial LLC decreased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 14.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,300 shares of the company’s stock after selling 4,400 shares during the quarter. Jump Financial LLC’s holdings in Acushnet were worth $1,798,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GOLF. Raymond James Financial Inc. acquired a new position in Acushnet in the fourth quarter valued at about $62,713,000. Norges Bank acquired a new position in shares of Acushnet in the 4th quarter worth approximately $14,825,000. 12th Street Asset Management Company LLC boosted its position in shares of Acushnet by 170.1% during the 4th quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company’s stock worth $8,592,000 after purchasing an additional 76,126 shares during the period. Principal Financial Group Inc. boosted its position in shares of Acushnet by 6.7% during 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 during the period. Finally, JPMorgan Chase & Co. increased its holdings in Acushnet by 5.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock valued at $76,654,000 after purchasing an additional 54,314 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GOLF. Truist Financial lowered their price target on Acushnet from $68.00 to $64.00 and set a “hold” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. Finally, KeyCorp reduced their target price on shares of Acushnet from $77.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Acushnet presently has an average rating of “Hold” and a consensus target price of $70.60.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the business’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 sale, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 54.60% of the stock is owned by corporate insiders.

Acushnet Trading Up 0.6 %

Shares of NYSE:GOLF opened at $59.63 on Friday. The company has a market cap of $3.57 billion, a PE ratio of 20.28 and a beta of 0.84. The company’s 50 day moving average is $64.86 and its two-hundred day moving average is $67.31. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week 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 announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Equities analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, March 7th. Acushnet’s dividend payout ratio is currently 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.