Heartland Advisors Inc. Sells 80,388 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Heartland Advisors Inc. lessened its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 75.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,820 shares of the company’s stock after selling 80,388 shares during the period. Heartland Advisors Inc.’s holdings in Acushnet were worth $1,906,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOLF. Blue Trust Inc. increased its stake 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 purchasing an additional 176 shares during the last quarter. Semanteon Capital Management LP raised its stake in shares of Acushnet by 3.0% in the fourth quarter. Semanteon Capital Management LP now owns 9,659 shares of the company’s stock valued at $687,000 after buying an additional 281 shares during the period. Robertson Stephens Wealth Management LLC grew its stake in shares of Acushnet by 8.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock worth $298,000 after acquiring an additional 326 shares during the period. Orion Portfolio Solutions LLC increased its holdings in Acushnet by 3.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock worth $678,000 after acquiring an additional 330 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in Acushnet by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock valued at $1,324,000 after acquiring an additional 376 shares during the period. Institutional investors own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

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

Acushnet Trading Down 1.5 %

Shares of GOLF stock opened at $67.37 on Friday. 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 market cap of $4.04 billion, a P/E ratio of 22.92 and a beta of 0.79. The business has a 50-day moving average price of $66.99 and a two-hundred day moving average price of $67.63. 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, beating analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. Equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS 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. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, March 7th. Acushnet’s dividend payout ratio (DPR) is 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.