Kayne Anderson Rudnick Investment Management LLC Decreases Position in Acushnet Holdings Corp. (NYSE:GOLF)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,960,022 shares of the company's stock after selling 160,947 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 11.45% of Acushnet worth $494,718,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOLF. MetLife Investment Management LLC grew its holdings in shares of Acushnet by 4.0% in the 4th quarter. MetLife Investment Management LLC now owns 17,309 shares of the company's stock worth $1,230,000 after acquiring an additional 672 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 5,661 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Acushnet by 1.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock valued at $953,000 after buying an additional 217 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Acushnet during the 4th quarter worth $419,000. Finally, Mariner LLC boosted its position in shares of Acushnet by 40.7% in the 4th quarter. Mariner LLC now owns 13,726 shares of the company's stock worth $975,000 after buying an additional 3,972 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Analyst Upgrades and Downgrades

GOLF has been the subject of several recent research reports. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and raised their target price for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. Truist Financial dropped their price objective on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a research note on Monday, April 14th. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. KeyCorp dropped their price target on Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Acushnet currently has an average rating of "Hold" and an average price target of $70.60.

Acushnet Trading Up 1.5 %

GOLF stock traded up $0.96 during midday trading on Thursday, hitting $62.90. The stock had a trading volume of 401,317 shares, compared to its average volume of 370,588. The company's 50-day moving average price is $64.47 and its 200 day moving average price is $67.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a market cap of $3.77 billion, a PE ratio of 21.39 and a beta of 0.84. Acushnet Holdings Corp. has a 12-month low of $55.31 and a 12-month high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data 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 return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.235 per share. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, March 7th. Acushnet's dividend payout ratio is presently 28.23%.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 54.60% of the company's stock.

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.