Balyasny Asset Management L.P. Has $3.76 Million Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Balyasny Asset Management L.P. cut its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 35.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,893 shares of the company’s stock after selling 28,948 shares during the quarter. Balyasny Asset Management L.P. owned about 0.09% of Acushnet worth $3,760,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Acushnet by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock valued at $107,097,000 after acquiring an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock worth $76,654,000 after buying an additional 54,314 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Acushnet by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after buying an additional 10,166 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Acushnet in the fourth quarter worth $62,713,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Acushnet in the fourth quarter worth $28,641,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

NYSE:GOLF opened at $67.78 on Monday. The stock has a market cap of $4.07 billion, a P/E ratio of 23.05 and a beta of 0.90. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. The company has a fifty day moving average price of $64.46 and a 200 day moving average price of $67.59. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last released its earnings results 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 net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $703.37 million during the quarter, compared to analysts’ expectations of $697.82 million. During the same period in the prior year, the company earned $1.35 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, June 6th. Acushnet’s dividend payout ratio is 26.11%.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’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 sale, the insider now owns 96,006 shares of the company’s stock, 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 is available through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. KeyCorp boosted their price objective on shares of Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the company from $80.00 to $71.00 in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Acushnet presently has an average rating of “Hold” and an average price target of $70.00.

Acushnet 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.