Point72 Asia Singapore Pte. Ltd. Purchases 232 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Point72 Asia Singapore Pte. Ltd. boosted its position in Acushnet Holdings Corp. (NYSE:GOLF) by 39.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 818 shares of the company’s stock after purchasing an additional 232 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Acushnet were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after purchasing an additional 176 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Acushnet in the 4th quarter worth $51,000. Berry Wealth Group LP purchased a new stake in shares of Acushnet in the 4th quarter worth $202,000. Hyperion Capital Advisors LP purchased a new position in shares of Acushnet during the fourth quarter valued at $206,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of Acushnet in the fourth quarter valued at about $210,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Trading Up 2.4%

NYSE:GOLF opened at $72.13 on Monday. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 24.53 and a beta of 0.90. Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.65. 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 firm has a 50 day moving average of $64.70 and a 200 day moving average of $67.93.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the prior year, the business posted $1.35 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.30%. Acushnet’s dividend payout ratio (DPR) is currently 26.11%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point downgraded Acushnet from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $71.00 in a report on Monday, May 5th. Finally, KeyCorp upped their price objective on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.00.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction on 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 owns 96,006 shares in the company, valued at $6,802,985.16. This trade represents a 17.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 54.60% of the stock is currently owned by insiders.

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.